Big ambitious RPG from a mid-tier developer that has never worked with the genre before... I wouldn't get my hopes up too much.
Hmm... they have been around since 1997 and made games like F.E.A.R. I think this is their first major title for WB Games ever since making them their publisher, so the pressure is up. I have been disappointed by almost all LOTR games, such as War in the North which was just a generic Smash Em up with some LOTR pasted on it to sell it.
So many games add more content and expansions quickly, that I usually wait for the whole shebang to be released and then buy it. For example, I have only just bought Borderlands 2 plus all the DLC, because I cant be bothered to go and get all the DLC as it comes out.
Already on my radar, I hope it will be any good. There are so many awesome new devs popping up and as much nostalgic as I can be when it comes to Ultima ... Garriot's design style might be a tad outdated. Fingers Crossed (Same goes for Chris Roberts)