CbC: Silm or TH?

[Son of Númenor]

With the Lord of the Rings Chapter-by-Chapter Discussion being such a hit, there has emerged discussion of the possibility of another CbC some time after this one is wrapped up. This poll is to get a read on which other work of Tolkien's BDers would be most interested in discussing chapter-by-chapter. The two logical choices seem to be The Hobbit and The Silmarillion. I am assuming that HoME, UT, the Letters, etc. should be excluded from this poll, though doubtless there are some of us who would love to disect them page-by-page, letter-by-letter.

So what do you think? Bilbo or Beren? The two pieces are obviously dissimilar, and there are those who feel that neither is to be taken as wholly canonical. Regardless of their merit as pieces of the Legendarium, they both make for a sterling read. I would not be unhappy with either, and I suspect that the majority of Downers feels the same way. The Silmarillion, however, gets my vote: it has always been my favorite of Tolkien's works, edging out LotR on account of its grand scope and that indescribable hint of the mythic, of old dusty lorebooks and legends washed away by the Sea. (Sorry to wax faux poetic.)

This is by no means the official poll to determine which work we read next, unless the moderators deem it to be. You need not substantiate your vote with a lengthy argument (though we all know prolix debate is welcomed here at the Downs if you wish to engage in it). Just choose whichever work you would have more fun reading and discussing.

I will note that if The Silmarillion is chosen, I would be happy to take over Esty's role as discussion leader -- assuming she wishes to relinquish that power. Apologies if this thread was posted in the wrong place, or if it should not exist at all.