Well, some of us have seen
Hobitit as kids, way before the PJ movies. Naturally I have a soft spot for it.
I'm really glad it's on YouTube these days with decent subtitles (won't nitpick about them now) so it's accessible to fans around the world. The cheap early 90s special effects and some of the costume/makeup choices are pretty ridiculous, and some of the adaptation choices are questionable too (following just Frodo&Sam after the breaking of the fellowship? really?) but I would definitely recommend it. It's very atmospheric, more faithful to the book than the PJ movies, and certainly something different.
That being said, I really want to check out the Soviet LotR now. I was happy to discover it seems to have subtitles too, so I can actually follow it!