I first listened to it on the radio when it was first broadcast and was addicted from the first episode. I would avidly look forward to each episode every week.
It is relatively faithful to the books, as far as 13ish hours can be with a huge trilogy, and manages to convey a similar atmosphere and depth. Unlike the movies it does not try to be too action packed and thus the story develops in a very similar way to the books, allowing the listener to go on the same journey as the hobbits do in the books, starting off small and gradually getting bigger and bigger as you and the hobbits learn more details and the story expands. Like the movies the characters are very good and really do reflect how they are in the books, it has a very good cast. The music in general is very good, apart from the Eagles theme tune.
Wikipedia has some details about it.
And so does the LOTR wiki.
And also the Tolkien Gateway
Here is an excellent piece by Brian Sibley, the writer of the dramatisation.
The blog has a good write up.
This forum has some great information and includes some comments by Brian Sibley himself.
This site has a complete transcript of the whole series.
Reviews and Articles
Original Tape release
Silver version
Tape covers and map are silver
Gold version
Tape covers and map are gold
card cover - some sets were issued with a card cover over the box
Centenary Limited Edition
Includes booklet by Brian Sibley
Gold tape covers and map
Original Tape American
1989 Tape American (with the Hobbit)
alternate packaging
1995 CD
Limited
Gold coloured discs
1999 CD
1999 CD German
2000 Tape Children's Edition
Includes Map and Freeze
Cover illustrations by Mark Hudson
2001 Tape
2001 CD Slipcase
2002 Tape (jewel case)
2002 Tape (plastic case)
2002 CD
2002 CD (with Hobbit)
All in one plastic case packaging
2002 Tape American
2002 CD American gift set (with Hobbit)
2003 CD Collectors Edition
Release review: http://www.theonering.net/torwp/2008/10/07/30127-review-re-release-of-the-bbc-the-lord-of-the-rings/
2009 CD Tolkien Collection (with Hobbit and Tales from the Perilous Realm)
2011 CD (with Hobbit)
2014 CD
Collectables
As far as collectables go, unfortunately, apart from the different releases above, there is not that much.
Promo Poster
Large Poster
Promo posters (with Star Wars)
LP of the Music
Tape of the Music
Sheet Music
Radio Times (March 1981)
This blog has a bit about the artist of the Radio times image http://buttes-chaumont.blogspot.co.uk/2007/07/eric-fraser-1902-1983.html
Postcard (2002)
Postcard
Promotional Buttons
SFX Magazine review (May 2009)
This SFX magazine has a very good interview with Brian Sibley, the writer, which is detailed on his website.
Infinity Magazine
Issue 42
Microphones in Middle Earth
This fanzine is dedicated to the BBC Dramatization.
Lord of the Rings Single Volume Book
This does not really exist, but was a computer mock up done as an April fools joke.
Still very cool.