I've had my Hobbit for a couple of weeks now, played all the mini wizards and beat Smaug, and it's still LOTR for me by far for the win.
However, I think it's really hard to compare because they're such different games. The only thing they have in common for me is that they both capture the feeling of being in an adventure better than any other games I've seen.
I think in the end, I just like the shots, codes and overall experience of LOTR.
But the video and audio in Hobbit are second to none. The music that plays during Smaug MB is absolutely epic, and the sequence after you land the kill shot on him is just pure pinball magic.
Although it's LOTR for me, you really can't go wrong with either. Really enjoying both of them!