I'm very close to ditching LP -- too many times, I'll hit the home button and have to wait while everything redraws. The developer said something to the effect that Android will kill the app if it needs it for memory and there's nothing he can do about that, so I don't blame him for it, but it doesn't keep it from being a pain in the ass.
I've tried several possible combinations of memory management in the settings, but nothing really seems to work. I do have several widgets, but they are all things I use almost daily (Simple Notes, Pandora, Music Mod, Agenda, Bookmarks, Pure Messenger, Beautiful Widgets, SwitchPro), so emptying my home screens of them would make the phone less-useful to me.
Ah well, gonna keep it a while longer, see if anything changes in development. Might ditch Pure Messenger to see if that helps too.