I have a Lamson V1.5 and I absolutely love it. The drag on the Lamson reels is incredible. I know there are fish that I have landed with that reel that I would not have landed with previous reels I've owned. I like the Velocity better than the Litespeed. They are not as light, but the seem a bit more rigid and a bit more durable. I fell once and knocked my V on a rock pretty good, but it never blinked. I'm pretty sure the same knock would have bent the frame of a Litespeed...
Cheers,