For a setting, I was thinking of LotR: The Defence of Rhovanion. The game starts in the year 2951, when Sauron re-occupies Dol Guldur. With that, Orcs reappear in Southern Mirkwood and the Vale of the Anduin, especially near Gladden Fields. All of Rhovanion is under pressure from Sauron from the Misty Mountains to the Iron Hills.
For PC races, there are the humans of Dale and Long Lake, the Dwarves of the Lonely Mountain and the Iron Hills, the Elves of Thranduil, the Beornings, and the Woodmen. For enemies, there are orcs, wargs, spiders, trolls and giants.
Would anyone be interested in co-GMing?