Just got this today, and I've got to give it a thumbs up.
The rules are reasonably intuitive, and easy enough that you can play out of the box.
The figs, while plastic, are beautiful! They seem to have been cast from the same molds as the GW metal figs, but scaled up slightly (prob. 28mm), and look very nice. The paint jobs are impeccable... you can see the eyes on all of them! Aragorn has stubble! Lurtz has the white hand painted on his head... in really exquisite detail. The Gimli is a wonder to behold! At the very least, the figs are going to be great in someone's LOTR RPG!
The starter set comes with 8 figs ( all come with Frodo, Aragorn, a Nazgul, & Lurtz, plus four commons), the rules, and a map. Boosters have 4 figs (1 rare, 1 uncommon, 2 common). There are 124 figs total. The one drawback I see in this game is that you have to use a hex map. They are coming out with map sets in January, and you can download a grid off the website, but it is still limiting.
One truly funny thing... the starter set comes with an empty base... it's frodo, wearing the ring. These guys made me happy to pay money to get a base with no fig! (The empty base does have different stats than the regular frodo... and he has special rules... so it is appropriate. But still funny.)
Tell you more after I read over the rules some more!
Website: http://sabertoothgames.com/stg/index.jsp
H.
(edited to include website addr.)