Lego LOTR is was genius idea to implement, but does the game lives up to its expectations? In general yes, however there are some flaws. The strongest thing imo in the game is the sandbox mini-middle earth, player can roam through all locations known, from movies, and books. There is plenty characters to unlock even Tom Bombadil who was cut out from the story in the movie! Nice and new feature is the forge which allows player to forge special items. Those items can grant abilities of some characters to every character in the game, even those created by player. Game has quite modern graphics, but not as good as hobbit, yet still very eye candy. The music is taken from the move, and it never gets old, so I'd say it was good decision to use original music from movie trilogy.
Despite game is really enjoyable it has few cons. There is a bit less humor in the game than in previous lego games. I think that the original voice lines from movie don't fit lego characters to well, it breaks the humor, and makes the game little less understandable for children. Lego games are targeted for children and families so I'd say its a con. The game has a huge amount of collectibles to unlock, therefore its is very glitchy and in most cases player usually stucks in the game progression in about 98%, because the couple last collectibles were not counted, or some level got bugged and is showing 0/3 collected items despite all of them were found, and player has them in inventory. Another annoying glitch is that sometimes player model is falling under the ground just after it was spawned, and keeps falling for eternity. I rode that console version was patched, however no one fixed PC version :(. There is few codes that player can use to unlock everything so if somebody got stuck in 98-99% of the game due to glitch he can use them but again it doesn't help with ever glitch. As far as the main story goes everything is usually fine, but when player wants to get maximum from the game it turns out to have few game breaking bugs.
Taking into consideration all aforementioned arguments I would recommend the game for every lotr and lego fan, however some players that love to unlock everything in lego games might get vastly disappointed once their game is stuck at 98 %, after countless hours of playing in order to unlock everything, and the "cheat fix" is not satisfying solution. Still the game is worth to play and it brings much fun, just don't try to finish the game in 100%, and you wont face any disappointment.