I got The Hobbit and the three LOTR books as a gift like a year or two ago, and I read them all over my summer break. I only recently finished reading through the Appendix at the end of the third book (just for the sake of doing so), and I'm on chapter 6 of the Silmarillion now.
I've got to say, I felt that none of it (except the very end of the appendix) was boring. Long, yes; but not boring. I would definitely recommend it to anyone.
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That's my thinking as well. It's long, very long, and you need time for it, but it is some of the best stuff you can spend your time on. All of it is exciting and engaging