What "league" are we talking about? In my view, Moorcock's book is equal in value and weight to Tolkien... they are both fantasy literature, both fairly "adult" fantasy literature at that (Not as in the BovD way, but as in they are a bit above most FR novels). I don't see Tolkien's work as being "better literature" or "above" Moorcock, or for that matter George R.R. Martin or Robert Jordan.
Understand that this, for me, is a raw nerve. I'm in college and most of my classes focus on english, either composition or literature... And I get so infernaly sick of literary elitism in that environment. All the time I'm being told to "not waste my time" with that "fantasy trash", that it isn't "true literature", that I will "never really get a true feel for the english language from that tripe" and other such nonsense.
In the college environment, at least around here, if you're not reading Shakespeare (whom I love), the saga of Gilgamesh, Dante, or any of the other "classics", or if it's not some neo-post-modern-existential-realist craptastic book, as far as the "elite" care, you might as well be reading "See Spot Run" books.
And I do _NOT_ want to see that here, or amongst gamers in general. To say that a book isn't in the same "league" as another book is a bold statement; don't make it unless you're prepared to get people mad at you.
And I am just a touch tired of the diefication of Tolkien and the elevation of his works to the status of Holy Writ. Tolkien is good, yes. But Tolkien is not a god. If I had a dime for every book review I've read or heard that started out with something like "Well, it was OK, but it was sure no Tolkien." or something like that... well, I would have a heck of a lot of dimes. Tolkien put a lot of effort into his works, no question. But when it comes down to it, I don't really care if we can trace the lineage of the family of whoever, or if the elven language has no verbs (It does, just saying)... I'm interested in the story he wrote. And, frankly, Tolkien is not the best STORY I've ever read in fantasy. Good? Yeah. First? Pretty much, yeah, at least of what we consider "modern fantasy". Are many aspects of later literature based off Tolkien? Yeah, no question. But is Tolkien, as a storyteller, untouchable? No, not as far as I'm concerned.
/rant off