Iosue
Legend
I like to think of LotR in terms of Frye's thematic modes, as suggested by Tom Shippey. They also provide a nice short-hand for different playstyles of RPGs.I consider LotR low fantasy, no ones's slinging meteor swarms around there; Dragonlance, definitely high fantasy.
Ironic: Hero is inferior to the audience.
Low-mimetic: Hero operates on the plane of common humanity.
High-mimetic: Hero is superior to others, but inferior to environment.
Romantic: Hero is superior to others and to environment.
Mythic: Hero is on divine plane.
LotR moves through the various modes. The hobbits start off low-mimetic with a taste of irony. Gandalf, Aragorn, the elves, etc. start off high-mimetic, and stay that way to the end of Fellowship.
In Two Towers, people get upgrades. Aragorn remains high-mimetic, but starts showing flashes of romance. The Three Hunters, for example, cover 135 miles (216 km) in 4 days, or nearly 34 miles a day. (By comparison a full marathon is 26 miles.) Aragorn also holds off hundreds of uruk-hai with only a magic sword and the force of his personality. Frodo moves up to high-mimetic. Gandalf the White is firmly in romance territory -- he can't be harmed by weapons, even the ones carried by Aragorn, Legolas and Gimli.
In Return of the King, the upgrades proceed. Frodo shows flashes of romance. Sam bounces between high-mimetic and low-mimetic. Aragorn is now firmly in romance -- he wrests control of the palantir from what is essentially a fallen angel, summons the dead to fight at his command, and comes out of a day long battle unscathed.
The Silmarillion, of course, dealing with minor gods (Valar) and angels (Maiar) is firmly in the mythic mode.