Well, I never got to try LOTR Online, but with the open beta today I finally did.
$199 for a lifetime membership. That's the same as $15 for a year. I'm really going to give this one a fair shake.
-Overall graphics much better than WoW, doesn't seem as good as EQ2 or Vanguard though
-Animations not as fluid (realistic) as WoW or EQ2 but better than Vanguard (I love how a running character in Vanguard looks like a non-moving stick body with robot like swinging arms - cheese).
-Interface - not horrible for a brand new game, much like WoW but not as good
-Addons? no idea.. if it can have WoW's addon support, that will be a plus
If it wasn't for the $199 lifetime or $9.99 a month options for Pre-Order people, I'd probably not even look at it again. But $199 lifetime is so tempting. I could really stick with 1 MMO for that even if it wasn't the best.
EQ2 is still the best MMO hands down though (except for PVP and lack of any good addon support). EQ2 is one hell of a polished HQ and content rich MMO.