I've only read LotR twice, and only in German (newer translation). If I get around to it, I'll read it in English this year. Last year I actually managed to read the Silmarillion. I read The Hobbit about three years ago, but in English. I like it better than parts of LotR and vice versa. Can't really name favorite chapters - although I definitely favor the ones with action and suspense, rather than those of pure travelling and talking. On my last read, I found TTT's second part incredibly boring, though.