Loved the LOTR films when they first came out way back in the early 2000s, and still enjoy them during the odd yearly viewing now. As others have said, given the voluminous source material, I never felt the film adapations were stretched or padded out. They were perfectly sized for each book, albeith with a few changes here and there (no Tom!!!)
I will admit that when I do rewatch LOTR, I find myself spending more time watching FOTR than TT & ROTK, without the need to press the FF button on the remote. I also found the never-ending journey of Sam & Frodo to Mordo, rather mundane & repetitive, to the point where I really couldn't have cared less.
But overall, I still enjoy the LOTR film trilogy - they will stand the test of time for a long while to come I think.
As for the Hobbit! Well again, the popular criticism is how a 300 page book can be turned into a 9 hour saga!? And as a consequence, I didn't think much of "Unexpected Journey", although it wasn't all that bad, and certainly head and shoulders above the dreadful "Desolation....." And I have yet to bother with "5 Armies..."
So on that score, the LOTR adaptations far exceed the contemptible Hobbit offerings.
But then again, I guess The Hobbit is aimed at a younger, less discerning audience.