There was a interview with George Lucas in an Icelandic newpaper not so long ago where he was asked about his feelings towards LOTR.
In short he said he was quite curious to see how Peter jackson and crew would pull it off. Further on he said he was doubtful if it was possible to put this epic story on the big screen at all and was very concerned about technical matters. He also said that ILM were possibly the only company proficient to make the computer graphics required for a movie of this scale, doubting the talents of PJ´s computer wizards.
Peter heard about George Lucas' reservations towards his teams ability to pull this off and says "he's never seen anything we've done and no one has ever seen the stuff we're doing now so how the hell would he know?"
Sean Connery rejected the part of Gandalf because he didn't want to commit to the three year project but said he would be very interested in a smaller role and was considering the role of Elrond.
John Travolta is not involved at all he has never even met PJ.
I personally have not heard of any of the bands you have mentioned on your site and I will ask someone about any composers involved but rest assured PJ is adament he wants to see the end of the heavy metal/pop stereotypes given to fantasy movies and yes he does want a fresh new sound -- something between classical and starwars.