The LOTR community is very divided and ultimately there is not really a straight answer to that question.
The way i see it there are three factions:
1) No PC - These players are happy with LOTR the way it is and do not want change for the sake of it. They feel the existing structures provided by TLHH are good enough. Some are concerned that a functioning PC may do more damage for the game than good (by banning or adding errata to cards). I hope this sums it up; perhaps someone from the no PC group may want to add more.
2) A small PC - This group of players are interested in formalising some of the processes that occur informally on TLHH. Their vision of a PC is probably quite varied. They are mostly interested in formalising rules support with current ruling documents, establishing tournament support with an accepted rotational playing format and a strong effort to get new players to pick up the game. They generally are not interested in changes that impact LOTR on a larger scale such as printable proxies, v-cards, etc.
3) A full-blown PC - All of the above aspects as well as an expanding card base in the form of v-cards, etc. They will need the blessing from Decipher.
Take a look at
www.trekcc.org to see what is a functioning PC is capable of achieving.