The first 100 pages = 3 stars. The rest, one at most.
"Smith of Wooten Major" is a cute little story.
"Farmer Giles of Ham" is a good story, rather enjoyable and humorous.
Then the bad news: the books is longer than 100 pages. In fact, the rest of it shifts between unusual torture and the occasional smirk at something clever gleaned through the mire. Only occasional and that's generous.
"Tree and Leaf" is half essay and half story. Well, the essay is quite more than half and shows just what an educated and pretentious blowhard Tolkien really was. I'm sure he had some good points in there about fantasy stories, but all I cared about was getting out of it. Then the "Leaf by Niggle" story to wrap it up pretty much sucked. It wasn't long, so was forgivable. Just not as good as the first two stories. Something about doing good deeds for your annoying neighbors when you just want to paint a leaf.
"The Adventures of Tom Bombadil" was ok. A series of 16 poem/tales, it was at times interesting and at other times funny, but mostly it was poetry. Aside from the fact that I don't like poetry, I guess it was ok.
Then we have the 3 epic medieval translation poems, "Sir Gawain and the Green Knight", "Pearl", and "Sir Ofeo". By now I'm speed reading. Sir Gawain was mildly interesting. Some violence and some knights and a boar hunt and a seducing tart of a lord's wife. Cool stuff. Boring poetic prose.
"Pearl" sucked donkey balls. It shows us what happens when one particular dumbass loses a pearl, falls asleep by the river, and dreams about a nymph who tells him about God. You get, yes you guessed it, bored shitless. I actually found myself distracted by a piece of loose skin that needed trimming from my finger. Infinitely more interesting than the crap I was reading.
"Sir Ofeo" was wonderful. Well, no. It sucked too. But it was awesome because we weren't reading "Pearl"! Here we have Orpheus, who they couldn't call Orpheus. I guess the anonymous English medieval poets couldn't chance being sued by anonymous Greek myth makers. But Orpheus lost his wife yadda yadda blab blab oh look at the flowers. Who cares? His wife probably left him for being in a fucking poem!
After finishing this, I promptly removed several "to read" Tolkien books from my GR shelves. I downgraded The Tolkien Reader to match this rating. I had read it as a child and was apparently too young to know it sucked. That book didn't have "Smith of Wooten Major" but at least one didn't have to suffer through the epic poem tortures.
I even considered removing Tolkien from my "favorite authors" list. What has he done for me, really? One novel (though many call it three because the publishers are tricky that way) that's epic and a cornerstone to the majority of the fantasy books I read today? Another novel that's a really good (though childish) prelude to the masterpiece? And a historical (his history, that is) novel that reads like a bible for elves? Sure, why not. These are still good books. And they're important enough to the direction I took in my reading preferences.
But I have copies of all of these. I've been collecting Tolkien for years. No more! It's time to downsize.