JR Pass or Individual tickets

I am going to Tokyo and moving around from there and I currently weighing whether a JR pass is worth getting.

My planned Itinerary is the following:
21 Oct. Landing late Tokyo
22 -24 Oct Tokyo
25-27 Oct (2 nights) Hakone (From Tokyo)
27-31 Oct (5 nights) Kyoto (From Hakone)
1-2 Nov 1 night) Nara (From Kyoto)
2-3 Nov (1 night) Tokyo
4-5 Nov 1 night Nikko
6-8 Nov (possibly a day trip to Kamakura) Tokyo
9 Nov. leaving

I seen that some places offer passes like Hakone Free Passes and for Nikko the World Heritage Passes which if I have understood correctly include trip from Tokyo and local transport. Does the JR pass cover local transport in any of the above-mentioned towns?

Thanks in advance for your help

*I seen that some places offer passes like Hakone Free Passes and for Nikko the World Heritage Passes which if I have understood correctly include trip from Tokyo and local transport. Does the JR pass cover local transport in any of the above-mentioned towns?*

No.

If you are considering purchasing the 21-day JR Pass, it won't pay on your itinerary.
http://farm4.static.flickr.com/3183/2907847117_5380d57999_b....

You might purchase the 7-day Pass and pay as you go on cheaper modes of transport.
http://farm4.static.flickr.com/3123/2908692424_274e433cac_b....

Hope this helps.

Thanks a lot optimistk for this indepth analysis... will be getting JR Pass for 7 days.

optimistk, could please provide me with a link of the site (if there is one) you used to calculate the fares, as due to some difficulty in finding accomodation, the itineray has been shuffled.

21 Oct. Narita
22 -24 Oct Tokyo
25-26 Oct (1 night) Nara
26-29 Oct (4 nights) Kyoto
30-31 (2 nights) Hakone (From Kyoto)
1-3 Nov (3 nights) Tokyo
4-5 Nov (2 nights) Nikko
6-8 Nov (day trip to Kamakura?) Tokyo
9 Nov. Narita

Thanks again for your help

for fares: www.hyperdia.com
please notice that you could stay in Kyoto and go to Nara for the day rather than moving to Nara for a night. You can also go to Osaka for a day while staying in Kyoto.
You can also visit Kamakura as a day trip, same with Nikko.

Seems you might want to purchase individual tickets judging from the revised itinerary.

Cheaper alternatives:
Kyoto to Nara and v.v. on Kintetsu Line: 610 yen each way

Odawara to Shinjuku on Ondakyu limited express 'Romance Car': 1,720 yen

Tokyo (Asakusa) to Nikko on Tobu limited express 'Spacia', together with one of the unlimited travel pass:
http://www.tobu.co.jp/foreign/pass/index.html
http://www.tobu.co.jp/foreign/timetable.html

If you'd like the original spreadsheet file, PM me with your email address by finding my handle name 'optimistk' on Lonely Planet Thorn Tree or Trip Advisor forum.