I couldn't really disagree with you more Psychoak. I can sort of understand your reasoning if you consider Lort of the Rings or the Hobbit on their own, out of the larger context in which they're a drop in the pond.
Tolkien didn't create elves, dwarves or orcs - but he did turn them into something they had never been before. For elves he completed several complete languages, each consisting of multiple dialects and time evolutions; all of which were intricately tied into the narrative and history of his world. For many of his other races he create semi-complete languages. He created art styles for the different peoples of his world - different groups of elves and men and dwarves had different, established forms of architecture, patterns, symbols and crests. For example, the props for the LotR movies weren't designed by some random schmo because they looked nice - many of the patterns and symbols and styles were copied directly from Tolkien's own drawings, and most of the rest were created based on his (extremely detailed) descriptions.
Dwarves and elves and orcs were around long before Tolkien, but Tolkien made them his own, and the vast majority of fantasy thereafter draws from Tolkien's elves and Tolkien's dwarves and Tolkien's orcs, not the elves and dwarves of the Eddas. That right there is quite the sign that he did something of note.
He created extremely complicated and intertwined histories for all of these people (and others) spanning thousands of years. He expounded on the lives and deeds of tons of great/important individuals. His lineages are as detailed as those in the Bible - you can trace Aragorn's lineage back through 15 Dunedain chieftains, 15 kings of Arthedain, 10 kings of Arnor and 23 kings of Numenor (and these are all extremely long-lived people), and then even farther past that. In fact, you can trace a few parts of his lineage all the way back to some of the original elves, and even to a Maia. And a huge number of the members of that lineage have their own stories told (those of the Kings of Numenor, for example, are tolled in the Unfinished Tales).
He created a creation myth (that I personally found as interesting as any historical creation myth I've ever read) and a pantheon of interesting gods, plus a whole host of other divine beings; and from there he details the rich history of Arda over the course of thousands of years, detailing the lives and deeds of hundreds of individuals...
The plotline of LotR isn't the most original in the world, sure - it's a classic good vs. evil story. But the descriptive and vivid way in which the story is told stands out. Yeah, some people (and you, apparently) find his story telling droll, slow and boring - but that is definitely not the only opinion. I'm actually just finishing rereading the Return of the King now, and I've never appreciated the series more. Last time I read the books I was a freshman in high school and I sort of agreed with you. But now, I'm enamored and can't get enough of it. I enjoy being given the full description of the Haradrim leader's banner in the midst of a chaotic battle sequence.
Not enjoying his works and/or his writing style is one thing. Calling him uncreative and unoriginal is just stupid - or uninformed.