Sorry! I've been away for a while and want to return to the "Who would you like to see direct a new Lord of the Rings?" mini-topic a few posts back. Is that OK?
I think it's incredibly easy, considering the nature of the material, to turn to directors who have demonstrated an inclination towards fantasy in the past, who've exhibited something a little "faerie" about them. I can imagine a poll somewhere with Tim Burton, Terry Gilliam and, yep, Guillermo del Toro planted firmly near the top.
But, in my opinion, although they may seem appropriate choices, I don't believe they actually are. The character of LotR is so strong that it doesn't need a director with his own fantastical style. Quite the opposite, in fact. It needs a director who's a little more "neutral" and prepared to let the source material express itself free from his or her desire to impress their own "stamp" upon it.
And so I'd go for people like:
Peter Weir - who's shown great capability with spectacle (Gallipoli, Master and Commander) and yet also an impressive ear for mature, complex dialogue and character (Witness) and gorgeous photography (The Way Back)
Ridley Scott - whose production values are always jaw-dropping (Gladiator, Kingdom of Heaven)* and who's clearly demonstrated a high degree of competency in just about every genre going (Blade Runner, Black Hawk Down)
And whilst a wuxia version of LotR would certainly be interesting(!), I'd refrain from hiring Zhang Yimou (House of Flying Daggers, Hero) or John Woo (Red Cliff)** too; I'm not entirely certain a highly-choreographed, balletic Pelennor Fields would be appropriate!!
*No matter how God-awful the film - here's looking at you, Robin Hood!
**If you haven't seen it already, the full four-and-a-half hour Special Edition is the one to go for: quite incredible!