I've already bit the bullet and have an LM-1. For me it was a no brainer as I have the SP-1 F1 already. With the parts interchange it only made sense. The same is true for my CRC 10th and 12th scales. As I typically don't sell stuff, they're all still in my collection. With as many collectors out there as me, there are going to be more car types than currently active classes. So I agree with points made by Howard, Ed, BP and TD.
We have one body at present. The chassis must fit under that body. The wheel base must match the cut lines. There is currently only one set of tires: premounted on 14 mm rear hexes, 5 mm bearings in the front. I would encourage everyone to give them a try before discounting them. Again, the word from SP is that they will offer them for $40 a full set, premounted. Other foam should be allowed at some point as long as it is not detrimental to the class. Single stud mounting for rear tires is going to be a major sticking point for a lot of racers trying to convert. That is one point that needs serious discussion. At some point the cost of conversion may or may not cost as much as an LM-1.