For a while there, I was reading LOTR and The Hobbit once per year. Haven't done that in a while though. For me, the story dragged the most in ROTK when Frodo and Sam traverse Mordor. But otherwise, I enjoy the attention to detail. I guess it all comes down to the specific reader's patience in terms of how fast the plot moves forward.
Normally I don't have that kind of patience. With Tolkien I did.