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From my experience, Shadow tends to win more than the FP. Therefore, I propose these two minor rule changes:
1) Whenever an eye tile is "discarded," it's actually removed from the game, and will not go back in the hunt bag when the fellowship reaches Mordor. This may be the actual rule, I'm not sure.
2) At the beginning of the turn before taking his first action, the FP player may use an Elven ring to turn a die to a Will of the West. This counts as using and Elven ring for the turn.
I actually haven't playtested #2 yet, but it seems subtle enough to me that I'm confident it will be good. It's specifically designed to let the FP muster Aragorn and Gandalf without quite as much reliance on luck. In the few games that Aragorn or Gandalf haven't been able to be mustered because of pure bad luck, the FP player had less fun, and it felt a little unfair. Since this rules change still requires the use of an Elven ring, it doesn't seem so unreasonable.
It also effects Denethor's Folly, but big deal. More importantly, the FP must make the decision at the beginning of the turn, so no killing off Gandalf in Moria and then deciding to ressurect him that same turn; this way, it allows shadow to react with Day without Dawn, which is a fun and interesting interaction, in my opinion.