Liquid Speed
It doubles the speed of 3D editor screen redraws. That is it's main
effect. If your mesh took 30 seconds to redraw in 4 viewports before,
it'll only take 15 with LS. It helps the keyframer some also, but not
as much, and not enough to play wireframe animations unless you're in
box mode. It's an astounding improvement if you use a vibrant
supported graphics card. I use the ATI Ultra Pro. I'd say it takes a
huge mesh (say 120,000 faces) perhaps 15 seconds to redraw in 4
viewports on my 486-66 system.
Hope this helps –
Jim