The advantage of the Lake was its ability to do linear phase crossovers, both brick wall and a FIR LR 24dB/Oct slope. To my ear things with a flat phase response sound more real.
The PM 90/60 works best with the 24 dB slopes to maintain vertical pattern control as narrowing low frequency band is merged with the widening HF band at the crossover point.
The ASC48 will do a new LIM 24 dB/Oct linear phase crossover with less issues than the Lake FIR simulation and you can overlap the bands if needed. The latency associated with this approach can also be less and you can cross to the subs with a linear phase crossover and have a latency less than 15ms .... which I think is about the maximum for many small applications. Here is some info on this approach ...
http://linea-research.co.uk/wp-content/uploads/LR Download Assets/Tech Docs/CrossoverFilters White Paper -C.pdf
The thing that is great with the Lake is it EQ page … almost unlimited filters of any shape you want.
You can see some of them on this video [MEDIA=youtube]lzxXfwr0qNI[/MEDIA]
In terms of price it cost me about half what a Lake would cost and it is 4 way stereo which requires 2 x Lake LM26’s.
I bought mine for Audio Bands Australia - http://www.audiobrands.com.au/ Don and his team are great 
