I have now watched Kerr's Red book edits and love the way they follow the book that much more than the original films, without the inter-cutting just as the actual book goes.
I hope that one day someone will do something similar with the HD material but with improvements, like working with the Hobbit films too so that some of that material could be put back into LotR and a clean Hobbit edit that just follows the book as much as is possible with no back story. I dont know if that would mean an inbetween film that uses back story bits that dot fit in ether the Hobbit or LotR, or if the material could all go into LotR, but ether way it would be good to use what works as long as it is middle earth cannon or doesnt detract from it in any way.
I would like to see the Narsil to Andúril reforging take place in FotR before they leave Rivendell, so its believed that Aragorn has it from that time onwards. Also with that an edit of RotK I have seen that has Aragorn using the Palantir at Dunham before leaving on the paths of the dead, where he sees a vision of the ships that Sauron is sending to attack Gondor. It looks like he is using it in a tent its very clever!
There is other bits like the scenes with Frodo in the Hobbit (that shouldnt be there of course!), some of which could be used in FotR, like putting the sign on Bag End gate for Bilbo's party, then he appears to go off to see Gandalf. Some bits of that might not be appropriate but it would still be kinda cool!
To be honest I would love to do it myself as I have all the BluRay's, but I dont have the kit to edit it. I dont know if the edit this thread is about is going to be like that but if it comes close it will still be good!
Is it possible to release a trailer of the work that has been done as a teaser as we have to wait another year yet before its all ready?