Holy Bartender, does this game rule.. The graphics and sounds are amazing, gameplay is smooth as hell and you can play the bad guys too and make mince meat out of those annoying elfs!
I read on some boards that the game can be quite unbalanced but I haven't come across anything yet. Might have to do with the fact that I don't play online.
The voices of characters that I came across so far have all been done by the real actors (Saruman, Gandalf, etc) which as always adds a lot.
Best things I encountered so far: Lurz and a couple of Uruk bezerkers laying waste to a whole group of Rohirrim riders in seconds, without taking a shot. Watching an army of Ents approach and have them all burst into flames due to your archers with fire arrows. Warg riders bowling over two units of peasant warriors. (As you can tell I have been playing as the evil ones mostly)
From Gamasutra Nintendo is taking the restrictions off pricing for the GameCube and allowing stores to sell it for whatever price they wish. This could end up with GC's going for $50, in which case I'll finally buy one.