This one’s been a long time coming, but every production diary Peter Jackson releases from the production of The Hobbit: An Unexpected Journey and The Hobbit: There and Back Again feels a little like Christmas.

On his official Facebook Page, Peter Jackson just released a fourth video about how things are going, mainly talking about the exciting video technology they’re using to get the 3D effects working. Take a look below:

The movie is, as you’ve seen, very technical, and focuses mainly on the technology they’ve developed to get as accurate a filming as possible with two cameras. They shoot 3D at 48 frames per second with two Red EPIC cameras and a very clever mirror system.

The first movie is scheduled for release in December of 2012, just over a year from now. I’m super stoked already, and can’t wait to see what Peter Jackson has to offer us this time around.