Haeleos' post is pretty spot-on, I think. WoW and LOTRO are the only MMOs I've put major time into, and they are as similar as they are different.
At a high level, the games are practically cousins. Tank/DPS/Heal classes, ranged and melee. Contiguous overworld with instanced dungeons. Heavy emphasis on questing. Passive crafting. Character customization within a class that allows you to specialize somewhat.
In these aspects, the games are identical. I mean hell even most of the hotkeys are the same!
But LOTRO is a much more relaxed (dare I say) casual experience. It isn't a race to max-level, and raids are so accessible that they are literally something that
anyone can log on and hop into. Something that WoW can't claim, as much as Blizzard has tried.
This relaxed, laid-back atmosphere is something that my WoW-playing friend just can't wrap his head around. I was explaining that people regularly do the 12-man raids with less than 12 people, and that earlier 6man dungeons can be done without healers, sometimes. Coming from a WoW raider background, he
could not wrap his head around this. He was like "So the fights are under-tuned?" and I was like "No... it's by design. It's just how LOTRO is."
This lack of finely-tuned raids and lack of PVP leads to a little bit of sloppiness on Turbine's part, when compared to Blizzard. BLizz is constantly tinkering - WoW is never ever "done." But Turbine has left some classes alone for a year or more. Since raids are pretty laid-back and there is no PVP, who cares if Hunter DPS (or whatever) is a bit low? This isn't a game with people obsessing over meters. Hell LOTRO threat hasn't even been fully reverse-engineered.
Anyway, just my 2C. As Haeleos said, it depends on what is important to you in an MMO. The intensity of the WoW treadmill and the constant Gearscore comments finally wore my down. LOTRO has been a very positive counterpoint... I'm enjoying exploring Middle Earth immensely.
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As for me, I dinged 27 tonight, and continued making my way through Lone Lands and North Downs. ND is the first non-revamped zone I've hit and man... it's pretty disappointing. MUCH rougher than Bree, LL and Shire... you can tell it's years-old content. I immediately accumulated 4-5 Fellowship quests and was like "WTF was Turbine thinking?" and ported back over to LL, ha.
Also, holy shit @ Lone Lands music. Dat soundtrack...
http://www.youtube.com/watch?v=Vn_L7oeatLw
The soundtrack prior to this point has all been awesome too, but sort-of "expected." Shire, Old Forest, they all hit their expected notes. But LL made me stop and pay attention. More than once. Really great.
Anyway, I intend on finishing up my 20s in LL, skipping ND entirely, and heading right over to Evendim. You veterans can tell me how awesome I have it, not having to go through the old, unpolished content.