I think that if there is a remake it won't be for a very long time, like 50 years or something.
But I really can't imagine anything better. I think that the movies struck a very good balance between book and non-book, and told the story very well. I think that any remake that is made wouldn't live up so well. I'm not looking for the book on screen, which is why I am so happy with the movies we have now, at least in part.
The spirit of the books was kept alive, I think, and really I don't see anyone able to do anything better. (Though I know that others will definitely disagree with me on that point).
A re-release sounds nice, though I can't imagine what they'd improve. When they re-released Star Wars, the special effects got a lot better...but I don't really see anything lacking in the effects department for LOTR. Maybe with some bonus interviews and scenes, or a blooper reel, or both. I like the image of all of us in 30 years when they re-release the DVD posting enthusiastically about the good old days.
