It will be HIS film. He is making his version. Personally, that gives me pause. If you made it would the Elves have pointed ears. If you did you'd anger the purists who said the didn't.
Same thing applies.
Some things will be what YOU interpret - not what Tolkien said, because he didn't always flesh out every detail. The grass is green in the Shire, but how green. At any rate the pictures didn't meet with their preconceived notions. So making a film is already a no win situation in some regards no matter who makes it. As for major changes in the story, I'm a bit saddened that they are being made.