Well, I think they're branding any character they can as Lord of the Rings in promo images, but they are actually Hobbit figures, like Saruman. They said that Lord of the Rings figures have out sold the Hobbit figures. They're probably generating more interest by having the promo images say Lord of the Rings.. If you look on Asmus's site, Gandalf's code is HOBT04. When you go to their products page, he's listed in a drop down menu for the Hobbit, not Lord of the Rings.
I personally would much prefer the Lord of the Rings based head sculpt, but I'll take what I can get right now. If they offer a new head later on, I would be cool with that.