I don't know how to explain how a chain in itself could be a great piece, but this one is. The design is wonderful, and it fits a lot of my jewelry, even non-LOTR ones. Put it with the one ring, and it's flawless. Perfect fit!
The downside is because of the S design of the lock, sometimes, if you move around too much, the chain could come undone on its own. But that is how it is in the movie, so movie-wise, this is a 5 in its faithfulness. Practicality-wise, the "S" design could be improved to make it harder for the chain to come undone accidentally.