Starting Characters:

• Glorfindel (Horn of Anor)
• Celeborn
• Bilbo controlling
  • Ioreth (Healing Herbs)

Other Characters:

• Thrain II
• Balin
• Thranduil
• Wacho
• Denethor II
• Halbarad
• Annalena
• Saruman x3

Resources:

• Marvels Told x3
• Fellowship x3
• Rebuild the Town x3
• Look More Closely Later x3
• Far Sight x3
• Hiding
• When You Know More x2
• Dreams of Lore x3
• Palantir of Anuminas
• Red Arrow
• Great-shield of Rohan
• Torque of Hues
• Hauberk of Bright Mail x3
• Sword of Gondolin x3
• Riders of Rohan
• Wood-elves
• Beornings
• Noble Hound x2
• Twilight x3
• Great Secrets Buried There (works with hazard portion but is in resources)

Hazards:

• Great Secrets Buried There x2
• Doors of Night x3
• Chance of Being Lost x3
• The Black Enemy's Wrath
• Drums x2
• Earth-tremors x2
• Creul Caradhras x2
• The Reach of Ulmo x2
• Winds of Wrath
• Nameless Thing x2
• Durin's Bane
• Mouth of Sauron
• Out of the Black Sky x2
• Morgul-horse
• The Nazgul Are Abroad x2
• The Witch-king of Angmar
• Khamul the Easterling
• Dwar of Waw
• Indur Dawndeath
• Akhorahil
• Hoarmurath of Dir
• Adunaphel
• Ren the Unclean
• Uvahta the Horseman
• Slayer x3
• Cave-drake

Sideboard:

• Forewarned Is Forearmed x2
• Favor of the Valar
• Secret Entrance
• Wizard Uncloaked x2

Explanation:

You'll note that all of the characters in the deck are sages. Idealy, the deck works like this:

1. Go to Weathertop and Far-sight for the Palantir
2. Get Palantir at Lossadan Cairn
3. Go back to Rivendell and get Saruman and a Fellowship or two
4. Go to The Wind Throne, face the auto-attack, play Rebuild the Town
5. Give Bilbo an item.
6. Next turn, tap Saruman and the Palantir to search for a Look More Closely Later. Tap someone with the LMCL to untap the site. Give Bilbo another item.
7. Repeat until corruption may become a problem. Untap the site and head to Lorien to store items (and pick up a Fellowship and new characters if the opportunity presents itself).
8. Grab a faction or two and go back to The Wind Throne to have some more fun.

The hazard portion has two themes. The most obvious is to get all the Nazgul on the table and use the Khamul Nazgul Machine to make your opponent drop his hand. The more subtle strategy is to play Great Secrets Buried There to try to convince your opponent to drop down to the under-deeps, where you can hit him with all sorts of fun stuff. Along with this theme are a couple cards which move companies around and Creul Caradhras, just for the fun of it.

The sideboard has stuff that was in the deck before but didn't quite fit in the rebuild. If you aren't using Saruman (if you have an LMCL in your hand, for instance) he can bring in something (FIF is if your opponent is Slayer/Assassin happy, FotV is to get the Rebuild the Towns et al. back into the shuffle, Secret Entrance is like a second Hiding, and Wizard Uncloaked can hamper corruption). Feel free to fill out the rest of the sidebaord.

This is the sort of deck to play when it's getting a bit late and you're looking for a silly game. Plus, there's something about cycling combos that's just really fun to think about.