There are assertions to the contrary in some canonical D&D materials (eg Gygax's DMG).
And in this thread there have also been assertions about genre - that fighters should be Conan rather than Achilles rather than Beowulf rather than Hercules.
I don't think that 4e does a good job of modelling the pacing experience of fiction, because 6 seconds of sword play takes much more time than it would in a film (even allowing for some slo-mo etc, in a film it wouldn't be more than 10 to 20 seconds) and more time than it would in a literary recount (a few sentences will do the job in both REH and JRRT).
But I think it does a reasonable job of modelling the in-fiction events of fiction. When the 1st level PCs in my game defended a homestead against goblin attack, there was the right mix of one-shots (vs minions) and back-and-forth (vs standard gobllins). At mid-heroic, the fighter leaping over a pack of hyenas (swarm) evading their bits (opportunity attack for moving within an adjacent square) to fight the gnoll on the other side seemed right. At mid-paragon, the paladin and fighter cutting their ways through phalanxes of hobgoblins (swarms again) seemed right. At mid-epic, the fighter leaping off the PCs' flying tower to land on a great white dragon and drive it to the ground (mehcanicaly, by knocking it prone) seemed right.
I could easily envisage running a LotR-flavoured game in 4e (Gandalf would be a warlord with wizard multi-class to gain Scorching Burst as an encounter power). Probably Conan also, although that does push some boundaries a bit harder (eg the way 4e healing works - being inspired by a friend's words of encouragement or blessing - fits JRRT better than REH) - I think a Conan game would need to use predominantly minion and swarm opponents, and really emphasise skill challenges as the main focus of play, even moreso than LotR.