An idea for the next great Middle Earth movie: The Rise and Fall of Gondolin: the Hidden City. There are a couple of great female characters. Idril is awesome. Plus, there is a ton of room for whoever the director (Peter Jackson) is to use his artistic license. I might not even get mad about it. And if he wanted, he could easily turn it into a trilogy. I don’t know if the Tolkien Estate would ever give approval for such a thing, but I think it could be really awesome.
The Tale of Beren and Luthien would also be a great movie. Luthien kicks ass.
In either of these they would need a bit of backstory to explain Morgoth and why none of the places are the same as in LotR, but Galadriel would be very fitting for the voiceover. She was already fucking there. The Life of Galadriel would be an awesome fucking trilogy also. One could never fit her life into one movie.
GODDAMIT, NOW I WANT ALL THE MOVIES!!!