You guys, it's confirmed that Orlando IS signed for The Hobbit two-parter! (and Cate Blanchett too, btw)
eeeeeeeeee!
I confess I've always been sad that the story developed backwards, in that clearly Legolas ought to be in The Hobbit someplace, except of course he wasn't invented yet. But the movies can 'fix' that and I find it AWESOME. Since part 2 is supposed to be the raid on Dol Guldur (mentioned in the appendices) I presume that's where they'll put him, although it's not like Jackson doesn't deviate from canon when he feels like it, so he may appear in all of the Mirkwood sequences including the Battle of the Five Armies.
So, they have Orli, and Cate, and are in negotiations with McKellan and Hugo Weaving, and then all they need to do is cast someone awesome for Thranduil and all my faves will be there. (and hee, I bet they'll even get Craig Parker back. Heck, while they're at it, might as well get the entire beautiful cast from Seeker in there someplace, since they're gonna need lots of elves)
*flails around in early Christmas glee*