Well, I got this idea from reading the 'Nicknames for Characters' Thread, and I though I'd post it.
Have you ever thought of what names LotR characters would if they lived in the present day? Here are some of my examples:
Elrond: The closest that I can think of is Ronald... But then everyone would be calling him that silly red-haired white-faced McDonald's clown... So maby just Ron.
Aragorn: The closest I got was something on the lines of Aaron... Or something...
Legolas: This one was hard. Very hard. There are very few names starting with L that wouldn't prevoke a thought such as 'LUKE SKYWALKER!!!!' so, yeah... Lee.... Silly, I know...
Elladan: Well, I would take the 'Dan' part of his name and make that into Daniel.
Elrohir: Again, another hard one... I suppose it would be Robert... I don't know though.
Anyway, those are just some of my examples... Do you have any?