I'm a huge LOTR fan and I hadn't thought of them making a Wii game until just recently. I'm so much more obsessed with the idea of a Wii remote lightsaber I guess just because it would work so much better.
As for an LOTR game... nothing confirmed but EA did renew their deal with New Line for the LOTR license so they CAN make more games, but they haven't said anything about a new Wii game. From what has been said, it seems like all they're working on at this point is another PC game, possibly something somewhat similar to Battle For Middle Earth but not as widespread. I guess it'd be more of an RPG than an RTS.
As far as Wii, I can't even think of a good idea for a Wii game. Making a game based off the movies at this point would feel like a port even if it was a completely new game. I wouldn't want something that feels like they made it JUST to capitalize on the Wii controls for the LOTR license. And for a completely new game, it's still tough to imagine. I really liked The Third Age but it got some pretty bad reviews. I also only played through it to the end once and I've never gone back to play it again just because it took SO LONG to beat and was really that one-play-through kinda game. I sure as hell don't want a LOTR fighting game if that's what you meant with Gandalf fighting Smeagol. That would be a stupid use of the license and would be panned by critics before it even began production. I'd be kinda interested to see a port of Battle For Middle Earth because I'm curious if an RTS could work well on Wii. But again, I don't really wanna see a port.
So I don't think about it much. If they make one, I hope it's good. If they don't, I don't mind because I can't even think of anything worthwhile to make. I'm just banking on a good Star Wars game to use the remote creatively.