I am only now discovering the joy of the rewrite. Since I'm reworking my book series, I've started writing short stories. I've been amazed at the sudden jump in quality from the 3rd rewrite to the 4th. It is almost as if the first draft is discovering a vein of gold, but it takes several rewrites digging the dirt away until you can hold that gold in your hands. Godspeed!
I read the books first. That opening chapter with the birthday party was my first contact with Tolkien's world and I thought it was a children's story. My friend had offered me the book (for my birthday) and after reading the first chapter I glared at him and complained: "It's a children's story!". "Keep reading", he insisted. I kept reading so I'd have more ammunition to tell him how awful the book was... Then the Ring showed up and I was under its spell. Of all Tolkien's works, The Hobbit is my least favourite. Apart from the scenes with Gollum, that one *is* too childish for me. But I think he was writing for his son? That explains it.
Interesting. Well, I know people who were never able to get past the first page, so you're not alone! Me? I got sucked right in and spat out at the end of three volumes, wondering where the heck I was.