Here are a few miscellaneous notes on some of the ancillaries that have been suggested.
Due to the period in time that the simulation is starting, Andúril should probably still be called Narsil. It matters not if the Sword that was Broken is still broken or not; it should still confer a significant command and morale bonus.
Originally Posted by King Kong
A while back, I made a note regarding my opinion on how the elven economy ought to work. Because the elven homelands are extremely poor for major agricultural development (seeing as they are forests, coastline settlements, and what essentially amounts to a mansion in the middle of a secluded valley) and because elven isolationism (particularly in the Silvan realms) makes an economy largely dependant on trade unlikely, I suggested that the Three Rings of the Elves ought to -- among other things -- confer substantial bonuses in economic output in order to offset the disadvantaged economic position held by the elven cultures in the early game.
In addition, this also serves to balance the elves from becoming too powerful, as it provides a strong incentive for the elves to keep its ringbearers -- who, no doubt, are some of their best commanders -- at home governing cities and castles rather than leading armies to the battlefield or besieging enemy settlements.
I would also like to note that the aforementioned gameplay benefits also have the excellent quality of being completely justified by the literature, as during the Third Age, the ringbearers -- Galadriel, Elrond, and Círdan before he relinquished his ring to Mithrandir -- spent most of their time at home using their rings for their intended purpose: to protect and enhance their respective realms.
As a final note, I believe that the Three Rings ought to also confer Influence bonuses as well as be more balanced in their conferred bonuses. In the above note, Nenya appears stunted in its power compared to the others, and to offset it I would recommend having it confer a larger Influence bonus than the others.
As always, just my two cents ^^