There really are only a couple of reasons to have LightSpace.
Do you need to calibrate displays accurately?
Do you need to manage LUTs?
If either question has a 'yes' answer, then you probably need LightSpace.
If you are involved in colour critical work you really should take calibration and LUTs seriously, and while there are a number of different colour management systems available, none come close the capabilities of LightSpace.
Beyond that you are then looking at understanding what calibration is about, and that is more about overall workflows than LightSpace specifically.
This forum is probably a good place to ask such questions.
Hope this helps.
Mob Boss at Light Illusion