Peter Jackson is talking about beginning work on a film version of The Hobbit, perhaps in 3-4 years. I was under the impression that he wasn't really interested, but I guess he just wanted to take a break to do something different first.
I'd like to see them use Ian Holm again for Bilbo, since Bilbo was only a little younger than Holm is when the Hobbit took place. I'd really like to see them include the Council of the Wise attacking Dol Guldur during the time Gandalf is away from the party, with guest spots by Saruman, Radagast, Elrond, Galadriel, and Cirdan. I know this isn't in the book but in The Unfinished Tales, but Jackson included material from the appendices and other works in the trilogy. It would also be great to include Gandalf's discovery of Thrain at Dol Guldur at the beginning to set it all up, along with the meeting of Gandalf and Thorin in Bree before they go to Bilbo, which I believe are both also in The Unfinished Tales. Of course, those last two would also work nicely as DVD extended edition extra scenes. I wouldn't put it past them this time around to film certain scenes specifically for the DVD.