skyjedi2005 said:

So not only is this being shot on video not film, but it is not even being filmed in New Zealand.

This is not confirmed, and Jackson is fighting really hard to keep it in New Zealand. It's Warner Bros. call at this point. This should be known for sure by the end of next week.

And as far as anyone knows, Andy Serkis will be back as Gollum and Ian McKellen will be back as Gandalf (both have said they're willing to reprise their roles). And I can't imagine Jackson not asking Howard Shore to return, and I highly doubt Shore will say "no."

But yeah, you're right, I wish this was being shot on film, and not in 3D. Ah, well, so it goes.