I have both the Mind's Eye/NPR versions, and the BBC versions, of both the Hobbit and the Lord of the Rings.
Better late than never?
OK first of all let me say that it is well known that the BBC versions were far superior productions money and cast-wise to the American NPR ones, which came out a few years earlier. The BBC version of LOR in particular many people claim have first rate acting and drama, and a much larger
"professional" cast, including Frodo who is Ian Holm (who played Bilbo in the LOR movies)
HOWEVER that being said, I am particularly fond of the NPR Hobbit production (this version always comes in a wooden box). Ray Reinhardt, Bernard Mayes and James Arrington play an excellent Bilbo, Gandalf, and Thorin. The NPR versions are more like old time radio, whereas the BBC versions have better sound, larger cast, and are more movie-like.
I recently got the BBC versions, and if you want my opinion I think there ireally s some great acting in the BBC LOR series, and this is definitely worth investing in, if you like the books. But despite all the complaints I hear about NPR, I find myself listening to them again and again. They are just plain fun to listen to. Why not have them both?

Here, if you want to hear me yack some more, here are my reviews of the Hobbit versions (first two listed)
http://www.amazon.com/gp/cdp/member-reviews/ALW1636GEPC0J/ref=cm_cr_pr_auth_rev?ie=UTF8&sort%5Fby=MostRecentReview PS there is also an unabridged Hobbit recording out there- by Robert Inglis- which I got on BitTorrent, although I haven't listened to all of that one. Robert Inglis is superb as a narrator, and he actually sings the songs from the book himself (and isn't too bad at carrying a tune either). However he seems to me to have a difficult time making more than three or four all-purpose voices........the characters all sound kind of the same, almost to the point where it becomes hard to keep track of who is talking. He would have made a great addition to any audiobook cast, but carrying the whole show, I was a bit disappointed.
He is also the narrator of the only Unabridged recording of LOR in existence.
That is a HUGE recording effort, something like 20 or 30 CDs. Better set some free time aside if you get hold of that sucker.............and let me warn you, his voice cracks every now and then.............I can just imagine it after 20 hours or so...........