This is simply a poor copy of World of Warcraft, with little of the shine but well colored by the LOTR milieu.
LOTRO is very much unfun and relies on the Lord of the rings setting to make it enjoyable, much like several Star Wars titles the goal is simply to make a game (any game) in a popular setting merely to cash in on the name.
So unless your life is buried in love for Hobbits and Tolkien elves it's unlikely to overcome the typical mass produced MMO pitfalls.
Monsters wait in open sight, waiting to be attacked. Shortly after their death they simply respawn.
Monsters don't use team work to take you out, nor interact with eachother in any meaningful way.
Lord of the Rings online is pointlessly large, without adequate transportation options available. You might consider this important for the setting, since much of the books are about travel and preparation however I feel this is not an acceptable state for a game, which should be fun. There is no reason for you to role play the boredom of walking over great distances. If you want to be bored walking around, go do it in the real world: It's generally free, will keep your heart and lungs functioning, and you might meet some interesting people and develop real relationships - none of which will generally occur in an MMO.
Quests feel pointless, not epic. Battling pointless battles, which feel pointless as you battle them, is dishearting. Grinding out gathering quests, is equally demoralizing. My first few hours of play felt like trying to get to 300 fishing in WoW, oh ya, that's something I want to do again.
While turbine did a great job of capturing the mediocrity that Frodo doubtless felt in his daily life, it doesn't glaze over the boring parts like a history book might. Playing this game is like listening to an hour long narration of Juleus ceasar's 10,000th breakfast an electronic automated voice, you just know it's not going to get any better. Being bored in my own life is far more interesting then being bored in this virtual one.