My friend had the idea of watching the animated LOTR after seeing the Peter Jackson Return of The King. So I finally bought it off e-bay, thinking right from the start it was going to suck. Actually, it really wasn't as bad as I thought it would be. The animation was good for its time, they used a unique method of blending live action with animation to create some interesting effects, and the guy who did the voice for Frodo sounded somewhat like Elijah Wood.
Not the greatest adaptation of a book, but trust me, I've seen a lot worse. It skips quite a lot of things, since both Fellowship and The Two Towers are compressed into one two hour movie. Definatley worth a watch, kids might like, but still, absoutley no comparision with the Peter Jackson trilogy.