Well, technically speaking nearly an entire third of Return of the King was an appendices some of which they will be using in the Hobbit. The battle at the end of the Hobbit leaves much open to visual interpretation for live action so I can see that taking up most of the third film. The stuff they left out of LOTR was IMO not needed and by that I still stand by them leaving out Tom Bombadil. XD Sorry purists. though the extended films are much better than the theatrical versions IMO. Considering how much PJ is expanding more on the wizards and their initial fight with Sauron and the fall of Saruman all of which wasn't covered with much detail in the book which, as a film makes sense to add, there is plenty to make three films of though, I would imagine each part to be shorter than any of the individual LOTR films...hopefully. I can't imagine there actually being enough material for three nearly three-hour-long films. Maybe three 2-ish hour films this time. I still also think the studio doesn't mind three films for theater cash as well and I can't imagine THAT didn't effect their decision at ALL. XD Also the presentation of a three part epic has its draw. No, I still look forward to seeing these.