I completely disagree with you. The main story in LOTRO is what sets is apart from other MMO's like WoW, AoC, Aion, etc. The main story line is hardly underwhelming. I've completed volume 1 and up to volume 2.8. I can tell you that both stories are excellent. Look for book 2.9 to be the best storyline we've seen in the game yet. That's saying alot because I thought 1.15 was a great climax to volume 1. I'm going to assume you haven't done all the epic book quests or you just have a different opinion on a good story but this game has a great story especially since most MMO's have pathetic story lines.

I'm not sure what you mean by not enough LOTR in the game. We get to explore most of Eriador and some of Rhovanion. We'll get to explore Rohan, Gondor, Mordor, Harad, etc in the coming years once they are added to the game. We get to interact with the main characters from the books and even go on some quests with them. We are part of the War of the Ring, which is the main story line from the LOTR books. If you want to play as Frodo or Aragorn, I suggest you try a LOTR single player game.