OK, I just read through the Thread, and I would like to add my 5 cents about Lord of the Rings. (A personal favourite of mine)
Is the Lord of the Rings a literary masterwork? No, it is overly long, the writing style is clumsy and his grand visions aren't translated to the reader properly.
Is the Lord of the Rings overrated? Definitely not! The Lord of the Rings will always stand as the beginning of modern fantasy. JRR Tolkien managed to create a world and a type of story, that other writers have polished and perfected.
I loved the movies, they were a brilliant interpretation of the book, and in a sense they outdid the book.
The movies fixed the problems in the book. The movies are much more action packed, and doesn't descend into pointless songs and 20 page ramblings about nothing of import. Anybody that has seen the movies first will probably be disappointed with the books.
Despite this the Lord of the Rings are a masterwork. How someone could have written a story with such scope and imagination, without having previous writer's works to build on is beyond me.
JRR Tolkien did not master the art of writing fantasy, but he is the one who pioneered it.
And while it may be slow-paced it is a novel of undeniable epic scope, and a good read.