The Hobbit to be greenlit soon; both films in 3D?

Ever since MGM pulled itself out of financial Hell the rumors about their most ambitious production, The Hobbit, have been coming fast and furious. Not all of it was extremely relevant, but we're starting to reach the point every bit of info is important. None perhaps more important than this one from the LA Times which states that Warner Brothers, MGM, and New Line Cinema are all on the verge of greenlighting both films in the next few days, possibly as early as today. The deal would involve bringing back Peter Jackson to direct, ensuring that he's the visionary guide for all things JRR Tolkein.

The question now is in what form both flicks will take? The New York Times quotes an anonymous source within the production who says that when the greenlight is finally given it will be for The Hobbit to be in 3D. Does that mean it will be shot in 3D? Or will it be converted afterwards? Let's hope it's the former.

There was never any doubt that The Hobbit would eventually get made. There's too much money there. It's just a shame that the continual delays prevented us from seeing Guillermo Del Toro's vision. I love Peter Jackson's work, but one of the things I like best about The Hobbit story is that it was developed with children in mind. It's not nearly as dark as the LOTR stories. For the benefit of the big screen the story needs to be fleshed out embellished, which would've allowed Del Toro to inject more of his own visual artistry. I think we've seen the best Jackson has to offer.