Even a Tolkien-nerd like me found Bakshi's version almost unwatchable back when this was the default movie version of the books. Those Rankin & Bass TV films were better, and I still think their version of The Hobbit is a more satisfying adaptation than Peter Jackson's prequel trilogy.
Jackson's LOTR trilogy, though, set the gold standard.
EDIT: I had to search for an image of Princess Teegra. Jeez, and people thought Princess Leia's costume in Return of the Jedi was too revealing! I've never seen the film, so I'm trying to think of what, if any, plot device explains that... um... outfit.