My coworker and I were discussing the show, and when I pointed out that the writers only got access to the LoTR books and appendices, and not the Silmarillion (though there seem to be some grey areas), he exclaimed, "that explains so much!". They took liberties for sure, but what bothered me the most was that they were trying so hard to get the maximum mileage from the appendices without having unfettered access to the much richer material in the Silmarillion. As a high-budget fantasy show all on its own, it was entertaining enough that I watched the whole thing and enjoyed it. Looking at it as a tie-in to the Hobbit/LoTR/Silmarillion world, I found it jarring at times but still entertaining. I did enjoy the fact they had a large budget; Douglas Adams put it nicely - "Little expense had been spared to give the impression that no expense had been spared".