Am I the only one that thinks a Smaug themed coaster inside the lonely mountain, with a fire-breathing dragon AA though a treasure chamber would be all kinds of awesome?
A boat ride through Middle Earth wouldn't be incredible? Much more than "hobbits running around mountains."
I will admit that not too long ago I posted on this thread that I didn't want LOTR at Comcast or Disney.
That being said, the LOTR (and The Hobbit for that matter) has some of the most iconic imagery of any fantasy story ever written: Rivendell, Caradhras, Moria, Lothlorien, Isengard, Helms Deep, Erebor, Minas Tirith, Mount Doom, Baradur, Minas Morgul, The Paths of the Dead (Universal could knock that out of the park - pardon the pun), Hobbiton, Bree, and I know I haven't listed everything.
I hate that I am actually thinking this through, but you could have Hobbiton, followed by Rivendell at the area where you enter. Then the center could be Lothlorien. Branching out could be different lands - Rohan, Erebor (the Lonely Mountain, Laketown, etc.), Gondor, Mordor.
And think about the characters: Beorn, Treebeard, the Mouth of Sauron, the Eye of Sauron, Smaug, Orcs, Wargs, the Ring Wraiths. You literally could make an entire gate the size of AK just based upon Tolkien's world. I need to watch it or I might actually talk myself into wanting this.