I only watched the first episode. It didn't really impress me.
You should really consider giving it a second shot. The first is kind of an odd one. The rest of the series is way more subtle with it's fantasy,, and that's the real appeal to the show imho. Instead of making magic and fantasy the main attraction, they decided to focus on the human story, and just add in a splash or two of fantasy. It's just different then most other forms of fantasy entertainment where OMG DRAGONS, EXPLOSIONS AND MAGICS AND STUFF distracts from the storytelling.
This is not a rip on LOTR. LOTR is awesome in it's own way.