Well, there is a difference between nickel-and-diming and going free-to-play. It all matter how the microtransaction store is handled and what it sells. Some games/companies do it right, some don't. Some are a ripoff, some aren't.
There are a lot of F2P MMOs that get it wrong. You can't do much of anything without having to buy something from their store, or you're doomed to a grindfest without some store item, or you're at a complete disadvantage without paying. But LOTRO seems to be OK. You can play a lot without having to buy a thing (and you may not ever have to buy anything? I dont know, havent got it updated yet).
Besides, whats the difference between paying $50 for a game and $15/mo, or getting the game for free and spending $50 in the in-game store and possibly $15/mo in store items? And at that I'd say you were being a "high roller" in the in-game store.