The motto of people playing their MMOs has ALWAYS ALWAYS ALWAYS been "exploit early, exploit often." That was true in 99/2000 with Asheron's Call just months out the gate, and it was(/is?) true two months ago as it got put out to pasture (one-time-fee-to-play, no new dev work).
Turbine will patch the hole but only once in a blue moon will they even consider taking action against paying customers, and usually even then only a slap on the wrist 1-3 day ban. The macros, duping hacks, speed altering programs (gear).