I tried that with hobbit archers using wood 1" round wood dowels and some glued on hobbits but I found them a little embarrassing (they will never stop making jokes...) So I ditched that idea and started to collect as many fellowship hobbits as I could. I found the effort not worth while.
I buy everything used so for and trade the army I'm not collecting to my friends. Much cheaper and my friends armies are filling up quite nicely. I collect Gondor mainly which the majority seems to be followed by Orcs. (My friends like these to least so ya.
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http://drinkingwotr.blogspot.com/ - Links to my CrAzY House Rules, Games and 'poor man's' terrain.