Begin with the Hobbit though... not the Fellowship. I agree! The Hobbit is the proper starting point. After reading it, you really care about Hobbits. And you need to care about Hobbits to care whether their peaceful world is destroyed. If you just jump into FOTR, you don't fully appreciate how unlikely a hero a Hobbit is.
Agreed. The Hobbit is sometimes too easily cast off as a children's book and unnecessary to the trilogy... I could not disagree more with that. I am re-reading all of the books now, and started with The Hobbit. (waited until after the film on purpose)