I have the Lamson Litespeed 2. While the spool has not stuck, corrosion of the bearing cartidge is an ongoing problem. Water gets entrapped in the "sealed" drag housing, and the clutch/bearing cartridge rusts. They sent me a new cartridge, but now its rusting. I wish Lamson would improve the corrosion resistance of this part.
I've also had a mysterious tightening of the spool - spindel had to be replaced - and a non-linearity to the drag - drag had to be replaced.
I love the reel, but I am growing weary of the unreliability. Repairs take forever (months).
As for the LP series, dropping them was poor idea IMHO. Having just used a buddy's LP3, I kick myself for not buying them when they were available. What a block of a reel with great action and sound. Another great Lamson reel was the cork drag/ draw bar model - one was called the Steelhead. Again I kick myself for not picking one up.
I'm not too impressed with the current Lamson/ Waterworks offerings. Bring back the oldies.