The Lord of the Rings (non-Flash version) continues to look great. The second trailer is out now and it's marvy. The best way to view it is by download: middle of the page, click to download. Download the full screen trailer. Right click on 'download the full screen trailer'. 'Save Target as' and select the location: your desktop is probably best. Now this file requires the Real player. If you don't have that, you'll have to download it from real.com. (Jorn put me onto this download.)
Peter Jackson says 'Don't worry about Arwen's role. She's not a warrior princess. Our main source for extra material of her has been the Appendix.'. I hope he and I agree.
If you're pretty stoked about this movie, you should go to the official site and view listen to much of the interview with Peter Jackson. It's cool.
One thing he mentions is that Tolkien's language can still work. It seems to me that one analog to this is hearing Shakespeare today. It can still be very effective, especially when you have the context and the visual cues and the acting. Baz Luhrmann's 'Romeo + Juliet' showed this very aptly.
He says they have extensive passages of (Elven) Sindarin and Quenya with subtitles. That makes me shout 'Awesome!.'