I already play with the lotr soundtrack running in the background (and I'm sure a couple other people do too) and it really improves the experience and I think it would be great to put this in the mod,
I also think it would be cool if "The Prophecy" was used for the title and of course "Concerning Hobbits" would be used for the shire (most people just know it as "that good ole Shire music" you know the one) anyway I think it would add greatly to the feel of the gameplay and would be a much better environment for roleplay.