Personally I can't somach Bakshi but I like the Rankin-Bass.
I like the songs (Really, I'm serious. ) Not so much "Frodo of the Nine Fingers"... but I do like "It's so easy not to try" and "Roads go ever ever on", and out of the Hobbit I like the several of the songs. I think the Hobbit version of "Tra la la lally" is pretty good. And I even like "The greatest adventure is what lies ahead."
Maybe I'm influenced by the review at
Hollywood Jesus but I think the R/B cartoons were pretty alright. Not great, but pretty not-bad.
Bakshi... (shudder) No.