http://tinyurl.com/27cgnh It looks pretty official. I'd be happier if he were directing as well, but it sounds as if he's still going to be extremely involved, which will have to do. I'm also still quite curious about the 'two films' aspect of things, too. One rumor was that the second film would fill in some of the gaps between the Hobbit and LOTR, an idea I quite like in theory, but which I'm not really sure how they'll do. I'm not sure there's a story to be told there, really.
But I'm willing to give PJ the benefit of the doubt, at least until otherwise disappointed.
It will be interesting to see who he gets to direct.
And you know what? Cynic that I am, there's a part of me that wonders if The Golden Compass not turning out to be the blockbuster New Line was hoping for has had anything to do with their suddenly seeing their way forward to work out a deal with PJ for the Hobbit. (Note -- that's not to say Golden Compass can't still pull a decent profit. But New Line was expecting it to be The Film of the Holiday Season, which it apparently isn't.)