I owned both, still have SM, LOTR is gone, but wouldn't mind having it back. When I had to get rid of a game from my collection it was going to be one or the other because both have relatively long ball times, meaning you have to be ready for a long game to step up to either game, LOTR more so. In other words I'd hesitate to recommend having both at the same time in a small collection, even though both are great games.
Quoted from Atomicboy:Lotr by a mile. Sm wizard is cool, but all games feel the same.
My first reaction is that LOTR "games feel the same" to me too, but YMMV.
Whenever I play a pin with most modes requireing "hit x target/ramp y times to complete", it makes me cringe how un-creative it is compared to LOTR. It is partially why I'm fond of XM as many of the rules remind me of LOTR.