I think that they've created such high resolution textures for "future proofing" the game's visuals for two or three years from now, but that's just how I see it. If that's the case I like their decision.
Anyway I've been playing it for 3 hours or so, and so far I like it. I'm running the game on the 70% resolution setup, it's a weird resolution number but it's close to my 1400x1050 setting (it's actually a little higher in the game video options but not by much). All settings are at their highest, except for 1) Textures, which I run at the Medium setting (2GB video ram), and 2) Ambient Occlusion, which I turned Off (since I just don't like how it looks in pretty much all the games I've seen it used in).
With those settings I get a satisfying (smooth) performance and the game overall looks pretty good, although the environments are somewhat bland in general (or simply barren of features in some areas). The character animations (and the Orcs' / Uruk's) are very good, smooth and seamless, it reminds me of Assassin's Creed a lot (as pointed at in the reviews, and I definitely see the inspiration coming from that series, it's just obvious). The geographical layout and ground layers of the map were obviously crafted to accomodate the "I'm able to climb almost any surface at almost any angles imaginable" feature... and sometimes it's just exaggerated, but I can understand why in terms of game-play (purely game-play, regardless of the "plausibility" of it) they decided to craft the map the way it is, simply because it gives more freedom of movement and you very rarely run out of "exit routes" or encounter a dead end wall that you *finally* can't climb.
The sounds are good too, and the music while a bit repetitive (maybe I just haven't explored enough or done enough different missions to hear more of the soundtrack) fits the game well and fits the Lord of the Rings leitmotiv (in my opinion anyway). And I like the atmosphere in general (visually, mostly). I also love to break open those cages and let the contained beasts on the loose, then seeing those Uruks get chased is priceless.
Also, my system's specs are in my signature, not exactly a "modern" gaming PC anymore, but it gets the job done. I was afraid that I'd be stuck at running almost everything on lower settings, but I'm pleased to see that I can basically just turn almost everything up to max with the exception or three settings (textures, screen resolution and ambient occlusion). I'm happy to see that there's ultra textures settings coming with the game, on release, without having to wait for modding communities to do it, more developers should do that. That way, in about two or three years from now when I decide to upgrade to a high-end card I'll be able to turn up them textures and enjoy a still-looking-good game that didn't seem to age at all.