Its good!
The gameplay is not top of the range as the main feature is turn based strategy which is cool but it just dosent fit LOTR very well. The storyline is good in which you can play as the host of morder of the fellowship of the ring but it dosent feel like LOTR. The in-game scenes are good which are basically clips from the film and again it dosent really make the game any better.
The graphics are not very good at all and there are some stupid glitches here and there that arnt really worth mentioning. The main gem of the game is the music as there is combinations of nearly every tune from the films that add to a boring experience but dosent pick it up as far as you would run out of the shup and buy it straight away.
Overall i reccomend at least renting the game as it isnt a complete failure and if your looking for a LOTR game on the PSP then you may as well check this out.