Fantastic cast of characters and fun engaging gameplay that suffers to poor pacing and a lackluster story.
...the answer is yes. It is fun. I don't have time to play every game on the market, so I'm somewhat picky with what I choose to spend time playing, and I have numerous games in my closet that are unfinished. Yet I spent about 64 hours on ToL. So that certainly speaks for something. Honestly, the game gets off to a rocky start. Its boring and the pacing is not very good. But don't worry, it gets better.
The gameplay of ToL is very engaging, deep, and compelling. You will fight alot of battles, but they typically don't last long, so this doesn't bother me. You control only one character at a time, but you can switch around and each character is diverse and unique in its combat style, so this adds alot of diversity. The only complaint that could be levered against it for me is that most of the game is quite easy. I died maybe twice the whole 60+ hours.
Let me also say that the overall story is pretty weak. Nothing great. The real strength is in the characters. The characters really really grow on you. 3 characters in the game are easily some of the most memerable and unique characters in all of gaming, for me anyways. The dialogue can be cheesy, but for the most part, I found it compelling. The interactions between your group is great, and very funny. I laughed alot during this game, and its a real draw in having you coming back, so this imo offsets a poor story. However, after the main portion of the game, you get the character quests, and these add alot to each of the characters and this part of the game which starts about 30 hours in is much better than the first 30 hours. When the credits roll, don't stop playing, save your game and play the characer quests, they really define each person more fully.
Well, thats about it. If this sounds like your game, go for it, I enjoyed it.