I first read the trilogy in fifth grade, when I got it for Christmas, and I've probably read it through ~30 times since then (16 years or so). I've also finished the Silmarillion a few times, and most of the other stories that he wrote at least once.
Of course, I am a very fast reader (now I usually get through the entire trilogy in <2 days), but I continue to find things that I never caught the first 20 times or so through.
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The Unpronounceable Krsqk
"Well, sir, at the moment my left processor doesn't know what my right is doing." -
Freefall