Has anyone else considered running a game in an alternate-timeline Middle Earth? I think there are a few entertaining possibilities in that regard.
1. Isildur keeps the ring.
Isildur becomes a corrupt and wicked ruler, who also happens to be immortal. His heart turns against the Elves and Dwarves of Middle Earth and resolves to make a world of Men alone. He attacks Lothlorien and destroys it, but at great cost. Galadriel escapes to Rivendel with the remnants of her followers. The players are warring with a corrupt Gondor, which still has some good-hearted people, though they cannot stand against the Will of Isildur and the Ring.
2. Galadriel gets the ring.
Elves of Lothlorien capture Smeagol and Gladriel siezes the ring, not knowing it's full power. She is corrupted and bends the White Council to her will. Only Saruman has the power to resist her, but is unable to act against her directly. Elven armies dominate Middle Earth. The players are Men or a few of the remaining free elves or Dwarves that have not succumbed to the terrible beauty of Galadriel.
In both of these, Sauron still survives, but is still very weak since both of these timelines would probably involve setting the game much earlier than normal.
Does the Decipher license allow for alternate timelines?
Simon Hibbs