I leveled up LI for the extra time for distracting shot and - resistance. I really tried to work out the ToF 5/+anytwo trait line. I personally found that the loss of dps far more gimped my class than the extra CC I gained. Again, this is my personal experience, I'm guessing other hunters could possibly do more with it.
On the other hand, for T1 raids, as long as you're still have plenty of agility/phys. mastery, your dps should be just fine imo even with a ToF build.
other favorite middle-earth games: The One Ring RPG by Cubicle 7; LotR: The Card Game by FFG; Hobbit/LotR Strategy Battle Game by GW