Looks great, though I must say that I really wished they came in a sort of Red Leatherette (or even textured to look like leather - just so long as they look like the "Red Book of Westmarche").
Who knows, perhaps that is in store for yet another release of the complete trilogy? With PJ such a fan of both the books and DVD, one would assume he wants LOTR released this way...
I think NL is going for a color coded scheme of sorts. Green seems to be the color of choice for FoTR, while it looks like we can expect Black/Grey for TTT and prolly Blue for RoTK.