Well, it definitely has far better colors than the EE BD and it has far less DVNR than the theatrical BD. This goes mainly for FOTR though - the other two movies are I believe the same transfers for HDTV, OT BD and EE BD (although the OT BDs of TTT and ROTK also suffer from DVNR and EE of TTT has a green tint but to a lesser extent than FOTR).

On the other hand, all the HDTV captures of LOTR I've seen suffered from pretty bad compression artifacts - there simply isn't a really good HD version of LOTR out there.