Yes, I am JUST now reading The Lord of the Rings (many thanks to Big Bear for the Christmas present!). That being said, I am SURE I might be in the minority in what I am about to say. The book is good, but the pace is off. It drags at times. The chapters tend to be very long, and it's hard to find a stopping place. Some explanations and details go on for much longer than needed. BUT, it is a good story, and I will be finishing the series. My nephews had both warned me about the first book, so I hope its only UP from here. :)
Super short Summary from goodreads.com: (I'm sure we all know what the series is about though)
Frodo Baggins knew the
Ringwraiths were searching for him - and the Ring of Power he bore that
would enable Sauron to destroy all that was good in Middle-earth. Now it
was up to Frodo and his faithful servant Sam to carry the Ring to where
it could be detroyed - in the very center of Sauron's dark kingdom.