I think they have something for everyone- in that there is the drama/character building which some prefer, the action/adventure for others, the suspense/danger for others. Of course, they can't be one or all of those things all the time. But there is plenty for everyone, and there is little if anything that I'd cut... nothing comes to mind really, even for characters that bug me like Ezri and Troi- other people like them, so that'd be selfish of me.
And it gives us a look at what the Federation will look like in the future. There is sadness, joy, fear, indignation- the whole gauntlet.
I think they're worth it (and I'm pathetically cheap), and the end of LS is, I imagine, to set up for
A Singular Destiny in 2009 which if memory serves, KRAD is writing.
Ignore the hype, consider your interests, read book one, and see what you think and if you want to continue... up to you and your personality in the end.