Some highlights...
Blond ambition. The Elf member of the Fellowship is Legolas (Orlando Bloom), whose very name speaks to his tall, androgynous appeal. And if Bloom looks familiar, you may recall his brief appearance in Wilde as a rent boy.
A powerful queen. Nobody messes with Galadriel (Cate Blanchett), the Elf ruler who wields a magical ring and is one of exactly two (count ’em) women of action in LOTR. (The other is doesn’t show up until Part 2.) Not that the enchanting Blanchett needs mythical jewelry to overpower even the strongest human heart---gay, lesbian, or otherwise.
Man... if I ever saw Sir Ian McKellan on the street, I'd have to run up and give him a big ol' hug. He's too cool not to!