I only recently heard of The Hunt for Gollum, a fan-made 40 minute film detailing... the hunt for Gollum by Aragorn. To head off Sauron finding the ring in the Shire, Gandalf sends the Dunedain ranger to find the only person who knows Bilbo has the ring in his pocketses! Sounds like a good story, and we'll get to see it for free on May 3rd when it comes out. Their website has trailers but you can't download them due to technical reasons, so I have an inkling that demand to see it might hinder its release, unless they use bit torrent.
The trailer on their website is better than this first early trailer from youtube:
For those of us eagerly awaiting The Hobbit, set to be directed by Guillermo del Toro with Peter Jackson's blessing, this fan-made film looks pretty good in the trailer- they put a lot of work into it, and it looks better than any fan trailer I've seen yet. This looks like a 40-minute "Batman: Dead End" for LotR fans, which is a good thing.