Just finished reading the hobbit and lord of the rings to my 7 year old. I absolutely loved it, and he's a full blown Tolkien nut now. Previously we read through Harry Potter.
By the end I noticed I have really developed a voice. He has developed a richer vocabulary (dad what is "clemency") and is better at reading between the lines. Certainly enjoyable and educational for everyone. Looking forward to the next series we read and will miss this when he starts reading this stuff on his own. Was thinking of volenteeering at an old folks home.