I would avoid it just because of the recent revival in LotR interest lately. Don't doubt that she'll at some point be in a class with 2-3 other girls of the same name. Especially stay away from it if you have a common last name like Smith, Jones, Brown, Davis, etc. A good thing to note is that the first half-dozen cool names you think of are the same ones that everybody else thought of too. Avoid baby name books because they're (A) full of worthless completely made-up nonsense (if you just want a list of names, save $5 and look in your phonebook) and (B) because everybody else uses them too.
I don't have reservations about unusual names so much as I do fad names (you know how you look through a kindergarten roster and see 5 Jareds or Chelseas whatever), though it probably won't be as bad as picking the name of the latest new celebrity or soap opera character.
The whole idea about kids being picked on for odd names seems rather suspect to me anyway. When I was a kid, we made fun of each others names regardless of whether they were common as dirt (John, Ben, Amy...) or culled from the most obscure Sumerian clay tablets.