I've only been playing LotRO for about 4 weeks now, coming here from WoW, so there is much that I've not experienced, and I've still SO much to learn, however, I would like to share my thoughts as a 'noobie'.
I've played quite a few MMORPGs over the last 15 years or so and LotRO has become my 2nd favorite of all I've tried. There is so much that I really like about LotRO. I enjoy the many quests and the quest lines, the story lines. The graphics are some of the best I've seen. I very much enjoy the auction system which allows for people, especially low-levels a way to earn some coin. I love the crafting system, user-friendly, and gathering materials is quite easy (at my lower levels anyway). I love the housing aspect, and the fact that there are three styles to choose from, and each race is free to choose which style they prefer.
Some of the things I might like to see changed include the mail system - to be able to send more than one item at a time. In housing, I would like to be able to 'move' items, rather than the simple rotation now available, and have more freedom with the items that can be placed (i.e., not being locked into a specific size, type, etc.). It would also be nice if there were crafting facilities within the housing areas. With the crafting, it would be nice to be able to 'salvage' some items made, such as armor or weapons, in order to help reduce the cost of materials purchased. I would also like to see a 'dedicated' roleplay server. It would always be nice if inventory/pack space were easier to obtain, i.e., larger packs for purchase, perhaps player-crafted and/or less expensive bank slots.
PS) Female dwarves might be nice too =)