Seems like I've put my opinion in on this recently...but I'll try again.
Short answer: Yeah, it's decent.
Caveat: If you don't have to buy an army at GW's current prices.Longer Answer:
It's a fun game system, a few kinks to work out via house-rules but nothing bad. Large-scale games can take quite a while, though, given that every model moves individually. But there's less of the "roll this, then that, then this, then that...okay, you almost killed a guy" nonsense than in many other game systems. It's strongest aspect is probably the way that heroes are more than just more powerful warriors - often the proper use of a character's Might or Will can be as important as loosing your arrows at the light cavalry instead of the heavy infantry.
That said, GW's prices on the current LotR range - particularly heroes - are so absurdly high that I wouldn't recommend starting to get into the game if you don't have access to a cheap army and rulebook. For the price of a Lord of the Rings warband I could probably buy everything necessary to put on a game of SAGA for four friends.