Saw it too. I was thinking it was 10 episodes, surprised it was the seasons finale!
It's been a while since I've read the "other" books beside LOTR and The Hobbit, so I'm not remembering well how the forging of the Rings of Power actually went - they definitively were faithful in depicting the elven ones, but I don't remember how they started making them for dwarves and men as well. It must have been only when the Rings were forged and already used that Sauron went and forged the One Ring behind their backs, with men keeping on with their use (and eventually being consumed by it, turning into Nazguls) and elves taking them off immediately.
Fun fact: two of the three elven ringbearers were already present in the room when they were forged, Elrond and Galadriel. The third one is Gandalf, which is 99% the stranger, right? there were five Istari: Gandalf, Saruman, Radagast who was mostly interested in nature and animals, and two others who fucked off to the far east and were never heard of again. He's definitively no Saruman and he might be either Gandalf or Radagast, but he's showing some "Gandalf traits" so I assume it's him. At least they didn't spell it out completely, which is nice.
I guess on an eventual rewatch I'd have to see if the clues for the Halbard twist were all there, or if it was made for shock value. A good twist holds in restrospect, like the Sixth Sense one... this should better hold up.
Overall.... yeah, I enjoyed it and I accept time compression and some minor changes here and there, but often I missed the "wow" factor. When Breaking Bad came to a close, I had a big smile on my face, completely satisfied with the ending. That moment of complete satisfaction, of "yeah, this is really good, nailed it!" I probably felt it most when there was that lovely Hobbit song, This Wandering Day. A song should not be the most emotional moment of a series big as this. The visuals were stunning, Galadriel was great overall, and I loved her in the moment Halbrand was tempting her, probably they did some editing to make her eyes appear even more of a deep blue? she was one of those who saw the light of the Trees in Valinor, and Feanor was actually inspired by her beauty (her golden hair like the Sun, especially) to create the Silmarils, and that scene really made me remember "wow, she's one of the oldest elves, one who truly lived through all the events of the first era", and I think the "stronger than the foundations of the earth" callback was a good enough touch and didn't sound too forced.
But "something" is still missing, and I'm not talking about a maniacal following of Tolkien's writings. I didn't even suffer that much the dialogue but yeah, pacing and characterization could have been better. Let's hope for a better second season!
...anyway, in retrospect, isn't it a bit unintentionally hilarous that those three white sorceresses or whatever were acting so mysterious and badass and then they just went "oh shit we thought he was Sauron but he's not"? geez, how can you even make that mistake? ok, they're both Maias, but still, get a grip you androgynous white sorceress or whatever you were supposed to be. You had one job.