Well technically, it is free to play. In the past, you had to pay monthly to play any content at all. Now, you can play the whole epic quest line and level to 50 for free. You can log onto their servers and access content without spending a penny. I do wish they had given people more free content though. I mean really get people hooked. Someone levels to 20 and finds out they have to pay to keep going, some will quit. Instead, if you get them to level to 40 or so, you probably got them by then. There's so much more game after the 40s it would have been just fine to give free players that much content I think. I think the main difference between this F2P model vs. the other Free MMOs people are accustomed to, is that it's going from a sub model to a F2P model. Other free MMOs start as free and depend solely on the microtransactions for cosmetic and convenience items to make money. They knew this going in. I would assume that's why LOTRO's F2P is different.
Can you dye the color of your outfits? Mine looked so lame, I used the outfit #2 to show my old stuff, since my new stuff is all sorts of colors.
For most items, yes, you can dye them. There are a few special items that can't be. The outfit system is awesome. You can mix and match gear that you like from level 1 to level 65. If you have the wardrobe unlocked, you can share items with all your characters. Man, really too bad I didn't catch this thread earlier to tell you guys to hop on the server I'm on.