I don't usually post film trailers but I am very excited about this. I have only watched it twice and am already humming the song!
It sounds like it will be another stunning soundtrack by Howard Shore. Oddly, for me, the novel of The Hobbit is totally identified with Sibelius' 2nd Symphomy, which I played for the first time as I was reading the book for the first time. The opening, rather pastoral, first movement actually summed up the Shire for me very well. Even more oddly, Shore's "Shire" music is musically very close to the Sibelius in feel.
The various legal issues which caused production delays have been all to the good as Peter Jackson is directing which is as it should be. Hopefully the Perry brothers will be starting work on figures for Games Workshop soon!