The Lord of the Rings is, without a doubt, my favourite book of all time, and the Fellowship is, imho, the best book of the three. I prefer it over the others primarily because it depicts some of my favourite LOTR characters: Tom Bombadil, Elrond, and Galadriel. The story also has a tendency to always move forwards, with plenty of action and suspense. The 'death' of Gandalf and the breaking of the fellowship all contribute to build the uncertainty about the Ring's final fate. I could read this book over and over and never get bored. Having finished it, I can't wait to read the other two, but I also feel drawn to pick up the Silmarillion again and brush up on my Elven mythology. Not only did Tolkien construct the most beautiful and fascinating mythos, be he was truly a gifted storyteller, and the Fellowship is probably the best evidence one could find to support both claims.