"The script is adapted from elements of the appendices of The Lord of the Rings. The story follows the Heir of Isildur; the "greatest huntsman and traveller in Middle Earth" as he sets out to find the creature Gollum. The creature must be found to discover the truth about the Ring, and to protect the future Ringbearer."
I just watched two trailers and two teasers and all I can say is "Wow!"
"By fans for fans", it looks like they've done an excellent job.
Release date is Sunday May 3rd 2009.