Trailer 2 - The Hunt For Gollum 
There are fans films - and then there are Fan films. Made on a budget of $3000 (holy crap), the 45 minute long "The Hunt For Gollum" premieres next week at the SciFi London Film Festival. Judging from this trailer, I'd certainly lay out a few bucks to buy this on DVD.
Echowood, I know you're a LOTR fan, what do you think?