LOTRO FREE - What Does Everyone Think?

So I just downloaded LOTRO for free and can play it without having to pay a monthly subscription. It seems like there are a lot of things you can buy in the online store to supplement the core game, so in that regard it reminds me of Guild Wars (which I have played for years).

The last time I paid a monthly fee for an MMO was when I was one of the first people to sign up for and play Star Wars Galaxies (back when Wanderhome was still a server, not that I'd expect any old Wanderhomies to ever see this post anyway...). After the SOE Developers suckerpunched the players in the gut over and over and over I finally decided they weren't getting my money anymore and I haven't paid to play since.

The monthly subscription was the only thing keeping me from playing LOTRO (and I almost gave in repeatedly), so now it's like Christmas AND my birthday at the same time! Still, I can imagine that it could potentially be frustrating as heck for the longtime players (because of all of the money they've invested in playing), so I'm wondering what all of the vets think?

Is this new system good, bad, or a little of both? Is it a move of desperation on the part of the devs, or something they've been thinking of doing for a while? The game seems pretty "typical MMO" so far (I'm only level 8), but would you say it's worth digging into, especially now that it's free? If it makes a difference, I'd classify myself as a relatively big fan of Tolkien (I've read The Hobbit and the trilogy once every year or two for the past fifteen years, I read the Children of Hurin a few months ago, and I'm giving the Silmarillion a go as well).

Long story, short - what does everyone think about all of this?