Stumbled over this the other day.
Damned impressive effort (requiring an equally impressive effort to read all the way through 🙂 but there is no way in Arda you could fit it all into a three hour movie. A six hour TV miniseries perhaps (although the budget would obviously suffer). It would be a good sight better than that appaling attempt at doing Earthsea a while back at any rate (Let’s make everyone white! Let’s completely ignore the author’s opinions! Let’s publicly state that we’re ignoring what the books say because we’re not interested in an audience who read!).
But hey, it’s not like it’ll ever get made anyway, will it?