i'm a nerd yet i think the icons of "nerd culture" are mind-numbingly overrated. that includes star wars, star trek and yes, LotR (especially the book).
my reaction was much the same as hugo dyson's- "oh god, not another f-ing elf!"
tom bombadil almost got the book thrown across the room.
like i said, the movies cut to the chase and got rid of the nonsense. oooh, another poem. how interest....zzzzzzzzz.
on the converse cutting to the chase can go too far and insult the source material i.e. Dune.