That edition looks pretty damn cool. I'm really looking forward to the EE as it is for the extra content, more so than with previous EE's, and now that I've seen the set I do so even more.
FoTR EE really felt much better than the theatrical. Perhaps I feel that way (partly or wholly) because I've read the book first and then saw the film and wanted the film (within reasonable boundaries) to reflect Tolkien's masterpiece. However I have found that with all three films the adaptation was really haphazard. Good, entertaining films which I would rate 8 out of 10 stars, but they definitly didn't live up to the potential that they had to faithfully re-tell the story of the LoTR. In fact, several characters were changed in ways that I find totally ridiculous and plain unacceptable. Also, while there's much invented stuff in the films that looks really cool, it has always struck me, throughout all three films, how Jackson really doesn't have an eye for the " cinematic gold" that is already in the LoTR as written. He's so busy trying to change the story to his pleasure while keeping faithful to details like costuming etc, that he sometimes forgets what book parts would work awesome on screen. Seriously, if you look at all the iconic scenes in the three books, you'll find that Jackson has left intact perhaps 1% of them. If that. All the iconic scenes are completely changed, from showing the Fall of Sauron in the Battle of the Last Alliance to the scene with Frodo and Gollum in Mount Doom.
I also think that Tolkien simply told the story of the LoTR better than Jackson did, regardless of medium. In addition to that, Jackson's films feel much more attuned to a younger audience than the books do. People may argue that this is because film is a different medium, one with a different audience, and that we also live in a different time now, and all those arguments are valid, but they don't change the fact that the films feel more teenage.
.
*patience* 
