The biggest problem that I've seen with the LCS is that it was designed to do a few things, and be an open-ocean ASW escort was not one of them (I distinctly remember press conferences with then CNO ADM Mullen/Roughead, and maybe even AMD Clark saying that LCS was not going to replace the frigate's mission set).
And now we're pressing it towards doing open-ocean ASW. It reminds me of the plight of the battlecruiser. Designed to do one thing (patroling the Empire's long sea lines of communication against German commerce raiders), it ended up being pressed into the gun line against the Hochseeflotte where the Brits found out that there was something wrong with their bloody ships.
I think LCS will be fine if we use it for the non-intensive combat missions-showing the flag, presence, VBSS/MIO, etc. Even for littoral ASW and MIW (provided we ever get modules for it). But if we try to put it into the battle-line, I predict a disaster.