I have the 1978 three books LoTR slipcased set, and would've loved all of them housed in one place.
Being born in 1978, I was after both of these boxed sets for a while – until i found out that that's where the second edition turned ugly. tolkienbooks.net mentions that with the release of these sets the books got thicker and heavier paper (which makes them less readable imo) but not that at the same time they started covering the boards in paper instead of actual cloth (which is just a shame).