So far, I have a very film-like structure of the first 3 episodes ending at the 1 hour and 40 min mark, with the possibility of further cutting material depending on what the future episodes provide of character development and plot.
The Harfoots now provide the heart of the movie (thus far), the Galadriel storyline the Numènor (and human) plotline and “The elf guy” the main plotline. It all comes very obvious across that way, and makes the thin plot easier to follow and the overall structure of the series way more interesting in my honest opinion.