Two posts one after the other mentioning my work! Yey! Thank you for finding it useful. I feel flattered 
On a more serious note, "pure" LBB2 has four major flaws:
1) Turrets are the only weapons available. This causes two problems: first, it does not allow a warship to carry more firepower than a well-armed trader (as you can't devote more than one ton of armament per 100 tons of ship), and second, it means that a big ship has to roll to-hit a huge number of times per combat turn in order to use all of its weapons.
2) LBB2 drives allow for high jump numbers at relatively low TLs, at least with small ships; at TL9 you could reach Jump 3 (computer availability prevents you from reaching Jump 6), and at TL12 you could get to Jump 6. This means that lower TL does not limit the universe size as effectively as it does in HG: faster travel means faster exploration and easier control of larger empires.
3) No armor. That means that a missile fired by a Type-S could cause major damage to a 5,000-dton dreadnought - it could get up to 6 rolls on the damage tables, which could hurt a lot, and have a chance of triggering a critical roll.
4) The LBB2 combat system has several problems, ranging from insufficient and unclear sensor, missile and sandcaster rules, through cumbersome vector movement, to the above-mentioned lack of armor (or advantage of size) which makes fighters the rulers of the day (more firepower per dton, and as lethal as capital-ship weapons).
All of these problems are solvable.
1) This could be solved by adding heavy, dton-consuming weapons which serve two functions: to up-gun the capital warships (thus forcing the designers to choose between cargo/troops/fighters and big guns), and to consume several hardpoints per weapon (thus reducing the amount of to-hit rolls per turn). An interesting attempt at this direction by tbeard1999 could be found here.
2) This could be solved by using HG TL limits on jump drives. But, in fact, how much would LBB2 jump drives affect play? PCs, after all, rarely get high-jump ships, so the only problem is with the TU size; in a proto-Imperium, this isn't much of a problem.
3) Armor could be added; I am not sure in which way to do so (use HG fomulae or write down a table) and how it would deal with damage (absorb damage or reduce the chance to hit?), but it is definitely doable.
4) This is solvable as well, by using range-band combat instead of vectors and by adding better sensor and missile rules.

On a more serious note, "pure" LBB2 has four major flaws:
1) Turrets are the only weapons available. This causes two problems: first, it does not allow a warship to carry more firepower than a well-armed trader (as you can't devote more than one ton of armament per 100 tons of ship), and second, it means that a big ship has to roll to-hit a huge number of times per combat turn in order to use all of its weapons.
2) LBB2 drives allow for high jump numbers at relatively low TLs, at least with small ships; at TL9 you could reach Jump 3 (computer availability prevents you from reaching Jump 6), and at TL12 you could get to Jump 6. This means that lower TL does not limit the universe size as effectively as it does in HG: faster travel means faster exploration and easier control of larger empires.
3) No armor. That means that a missile fired by a Type-S could cause major damage to a 5,000-dton dreadnought - it could get up to 6 rolls on the damage tables, which could hurt a lot, and have a chance of triggering a critical roll.
4) The LBB2 combat system has several problems, ranging from insufficient and unclear sensor, missile and sandcaster rules, through cumbersome vector movement, to the above-mentioned lack of armor (or advantage of size) which makes fighters the rulers of the day (more firepower per dton, and as lethal as capital-ship weapons).
All of these problems are solvable.
1) This could be solved by adding heavy, dton-consuming weapons which serve two functions: to up-gun the capital warships (thus forcing the designers to choose between cargo/troops/fighters and big guns), and to consume several hardpoints per weapon (thus reducing the amount of to-hit rolls per turn). An interesting attempt at this direction by tbeard1999 could be found here.
2) This could be solved by using HG TL limits on jump drives. But, in fact, how much would LBB2 jump drives affect play? PCs, after all, rarely get high-jump ships, so the only problem is with the TU size; in a proto-Imperium, this isn't much of a problem.
3) Armor could be added; I am not sure in which way to do so (use HG fomulae or write down a table) and how it would deal with damage (absorb damage or reduce the chance to hit?), but it is definitely doable.
4) This is solvable as well, by using range-band combat instead of vectors and by adding better sensor and missile rules.