This remains my favourite of the three LOTR books: I love the magical early chapters in the Shire and the Old Forest and Bree when the tone is still slightly whimsical and the world wild and wide and magical - before the Fellowship heads on out into the Wild and the book becomes much more dour. After those early chapters the world feels like mainly landscape, with lots of orcs and a couple of Lovecraftian monsters (the Watcher in the Water particularly feels...unTolkien-y?).
I mean, I like landscape, it's just a different feel to the book.
Particularly feeling the plight of the Elves, too, their inevitable loss of the land they love - either to Sauron or to the rise of Men.