Aye
My high school English teacher had us memorize lines of Chaucer in the original pronunciation: http://sites.fas.harvard.edu/~chaucer/gp1-18.wav
One of the things I really like about books and the film adaptations is how Galadriel and Celeborn speak in the common speak. Exactly like it is not their native language. I've watched the movies with people who don't understand this. "If they are so smart, why do they talk that way?" A very subtle literary trick from JRRT!