Sorry I would have replied on some of the LOTRO questions but I was off playing LOTRO
I solo'ed my Hobbit hunter to 56 and I'm solo at the moment with a Guardian at 44. The Guard handles small fellowships solo really well. Great character if you are anti social.
As far as enchanted loot: the best stuff you can earn by getting rep in a region. For example: Kinship in Evendim (Warden of Annuminas, the nothern fallen kingdom of the Dunedain). My older sword was drop in the Barrows that served me for 5 levels, then a Mace I crafted, and now I'm using an Annuminas sword and matching armor set. Sets get some killer bonuses.
Fellowships I avoid for the most part, except with my brother which is rare. If someone is deeding I'll fellow up to try to get through a deed quicker for the bonuses (aka kill 150 Wargs). That said, some are just too difficult to solo so I'll use the "Looking for Fellowship" channel (LFF). Did that today in Angmar. I've never done a raid. I watched one long ago from a hilltop in Evendim, a group was taking down big group of trolls or something, looked spectacular with all the Lore Masters lighting up the skyline.
Anyway... I'm primarily a solo player and there is more than enough content to keep me busy doing that stuff, but if you like fellowships and Kins there are tons of them. Kins are always recruiting, I've got standing offers.
Until ArcheAge materializes or Elder Scrolls, there is no competition in my mind.
And yeah the Shire is amazing, charming and hilarious. I wore the 'Pie Runner' title for a while and later 'Servant of Process' for successfully delivering written complaints from a hobbit to a band of thugs (which of course tried to kill me repeatedly). Silly hobbits.