I agree that TW is running out of feasible historical periods to play in. Although my love of Fantasy has waned as I get older and more cynical, I still think LOTR is the way to go.
BUT there may be a huge copyright issue - now Hollywood has made the films do you think they would happily hand over the rights to a PC game set in the same world to another company?
I doubt it
Warner Bros or whoever has the rights would want to make the money from it for themselves