Guillermo Del Toro has been announced, officially, as the director of two Hobbit films, to be produced by Peter Jackson and Fran Walsh, and he's now allowed to talk about the project, which will take the next four years of his life. According to an interview with TheOneRing.net, some of the time will be used to repopulate the trees in The Shire, which have departed over the past couple of years.
He's also confirmed the involvement of Sir Ian McKellen and Andy Serkis in the films, and wants you to know that the second film is a stand-alone story, and not the "bridge" film it has been described as in early reports about the project online. In all, it's pretty exciting. You should read it.
TheOneRing.net: Guillermo del Toro Chats with TORN About ‘The Hobbit’ Films!