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That noise you hear? That’s the sound of J.R.R. Tolkien nerds and Jackson lovers weeping with joy.

Visually and tonally, this preview for part one — officially titled “The Hobbit: An Unexpected Journey” — looks like a perfect match for the Frodo Baggins tales that released in 2001, 2002 and 2003. This time, of course, the focus is Bilbo Baggins (Martin Freeman), who goes on a quest along with a gaggle of dwarves, all determined to snatch back valuable treasure from the dragon Smaug. But plot isn’t the main matter at hand in the trailer, which is viewable below. This clip is all about reacquainting us with Middle-earth.

Consequently, familiar characters like Gandalf (Ian McKellen) and all 85 feet of his beard make appearances. And, as the kicker to this fine trailer, so does a certain unattractive Hobbit played by Andy Serkis, who only has to say one single word to send chills up the spines of the “Lord of the Rings” loyalists: “Precious.”

The only bad news about the trailer is that it’s a preview for a film that doesn’t release until a year from now, on Dec. 14, 2012.