I just finished my 9th read-through of The Two Towers. Great stuff! The ending is particularly good. My two favorite characters really take form in the last 100 pages or so - Faramir and Sam.
People claim that this read isn't as good as it's predecessor and successor, but I beg to differ. A lot of important things happen in the 2nd book, and a lot of important information is given.
Most people complain about Treebeard and the Ents. Yes, they are pretty boring in the movie, but in the book, there is a lot to learn from them. The battle sequences aren't nearly as long as they are in the movies, as well.
The finest part of the book though comes at the end. After meeting up with Faramir, and learning that he isn't a jerk like his brother Boromir, and would NEVER be tempted to take the one ring, he's instantly likeable. The man is true to his word, and an invaluable friend to Frodo and Sam. He's even decent to Gollum!
And then there's Sam... saving Frodo, becoming a warrior essentially. Going one on one with Gollum and chucking him off a cliff, taking on one of the most dangerous of all creatures in Middle-Earth and prevailing... and still fighting on, chasing the Orcs who have captured his master.
What more can I say about this series? I feel like I'm at home wherever and whenever I'm reading it.