Somebody, please freepmail me where I can get those bootlegs. The stills are so hilarious, the actual movie must be even better.
Seriesly though, a remake of LOTR doesn't stand a chance of being made unless a director can convince a movie studio that he can out-Jackson Jackson. It wasn't the special effects or grand locations that made the movie, but the heart that went in to it by everyone from Jackson on down. Some people spent seven years of their lives to do the story as "right" as their talents would allow.
Jackson and the other writers had immense respect and knowledge of the books, even if they took considerable liberties sometimes. The actors put up with a lot of hard work and hardship. Everyone knew that their work would be unmercifully judged by legions of Tolkien readers who have very precise, and almost sacred, views of how things should be done.
Any other director and studio that wants to play "you bet your job, and the studio" on bettering the current LOTR had better have all their orcs in a row before starting.
That is the issue. PJ produced a classic. We can and do debate some of his choices, but his LOTR will stand the test of time. Sooner or later, someone will be tempted to try again but the bar is set pretty high. FWIW, I think Hollywood will do it, if only because PJ didn't throw in any sex and nudity. One of the leftcoast dimbulbs will decide the story needs a more "mature" and "sophisticated" treatment.