A mixed bag overall; some cool novel features, some knock-offs of other sites. And although the title was in jest, this new version does take almost as long to load for me as the official Armory does, and it feels nearly as heavy, sort of defeating the "Light" part of the site's name. It also assumed my feral druid was DPS (instead of tank), thus making completely wrong conclusions about the suitability of my enchantments. Minus points for appropriating the Mac OS X installer icon; it looks silly and out-of-place. Still, I'll probably use the site from time to time, at least for the character tooltips and heirloom scaling.
And whatever my opinions, I'm glad to see people continuing to develop innovative sites to use Armory data. Using Get Satisfaction for user feedback is also a great idea; I haven't seen anyone doing it on a WoW site before.