Smaug on the Brain.

"Literally, like every week, what you discover writing the two movies...it changes. So, every week there's a discovery, and anything we say this week would be contradicted next week. Certainly that would be true in casting. Why create hopes or why create expectations if down the line you're going to go, 'You know what? That was not a good idea."

While promoting the Hellboy II Blu-Ray, Guillermo del Toro gives a brief status update on The Hobbit, and, in discussing Smaug, once again sings the praises of Matthew Robbins' 1981 Dragonslayer. "The design of the Vermithrax Pejorative is perhaps one of the most perfect creature designs ever made. So, what you have to be careful is not to try to be distinctive just to be distinctive, but Smaug has certain characteristics that make him unique already." (FWIW, along with Excalibur, Clash of the Titans, Tron, and The Black Hole, Dragonslayer is one of the films in that first post-Star Wars genre boom that I count among my earliest movie theater memories. It was also featured prominently in the fan-made Hobbit teaser of several years ago. Good stuff, that.)

Update: Apparently, del Toro is still thinking on Lovecraft as well.