I managed to complete all the new content in about 4 full days, and I thoroughly enjoyed it. I particularly like that they have made things more consistent by allowing us to interact with most objects while mounted. The new zones are beautifully done, considering this is an old game engine, and the old-school feel is part of the charm that attracts many of us to play LOTRO. The gear rewarded from quests to get us started was fairly decent, for being entry-level Walmart gear. Lots of swimming in the islands, but hey, it breaks the routine a bit. Yes, there were, and still are bugs, but they are manageable. No group instances yet, but for many of us, that's not what the game is all about.
I tend to disagree with those who say there is nothing to do once you hit level 150. I have been pretty busy catching up with my crafting, old deeds, maxing VXP, helping other folks, unlocking and enjoying old instances I haven't done in years, and grinding embers for when the new 515+ level gear arrives (currently it is only 510). I do find it disappointing that older high-tier instances are still rewarding gear level 491-493, which is basically trash, compared to the Walmart gear you get from Umbar quests. Reminds me of why most people hardly ever play epic battles anymore, ever since SSG made epic jewelry worthless for players over level 100. I am still hoping they will change that.
All in all, I think we sometimes tend to get spoiled and complain, just because. I just remind myself that it could always be worse. SSG could decide to just pull the plug on all future development, or even decide they can no longer afford to keep the servers up. Now, that would send a few of us up into orbit, or down into full blown depression.