The Lord of the Rings: The Musical.
Like the Tony Danza show, its existence, while somewhat probable, is still surprising.
I believe it has already started its run in Toronto, and will have an official press "opening" in late March. I am personally not certain what the difference means exactly. According to news sites, it involves a cast of 55, and is 3.5 hours long. It is already contracted to move to London in '07, and potentially moving to New York in the years to come. I am wholly not certain how I quite feel about this, especially since, with the movies so close in mind, anything "musically" related, I'd expect to have something of the original film score. This is most likely not the case.
The wikipedia article says that stage/play adaptations have gone on before, with fairly favorable reviews for the last two plays in the three play sequence. This one though...musicals are pretty crazy enough, combining musical theater with Lord of the Rings, I'm not quite sure how seriously I could take it. I mean, yes, wizards, dwarves and goblins could be a little ridiculous (if you're not inclined to enjoy such a thing), but seeing them live on stage singing and dancing might be a little tougher to swallow.
It doesn't mean I'm not curious. It just means I may be hesitant to plop down the dollars. Or take a bus to Toronto.