Translating 'The Hobbit' Into Latin

As a lifelong Tolkien fan and an ardent Latinist, translating The Hobbit into Latin has been a long-cherished ambition of mine. But I am aware that others might think of it as, at best, a rather whimsical endeavor ("You're doing what?", "The Hobbit -- in Latin!", "Who's going to read that?!"). So perhaps I should begin by explaining why I think there are such good reasons for doing it that the only wonder is it had not been done sooner.