A year ago I was skeptical, but also uninformed about LSA/SP. That has changed as a result of what I have seen in my chapter (EAA1114, Apex, North Carolina), at the LSA Expo in Sebring, AERO in Germany, Sun 'n Fun and Oshkosh (Yep, I went to all of them I am a lucky man). LSA aircraft are very capable, modern and for the most part well designed and constructed. As an aerospace engineer (30 years) I think I am somewhat qualified to claim this. While the first "wave" of SP/LSA flyers appears to have been our older colleagues having issues with their flight physicals, the average age of SP pilots is clearly dropping. Our local SP flight school (Fantasy Air at KTTA) has a wall of pictures of new solo pilots. I'd put the average age at 40-45 years old. One hears the same across America. If there is one problem with LSA/SP, it is the continued misinformation among us old-timers. Thus we still lack SP instructors and shops that can work on the aircraft and engines, especially composite airframes and ROTAX/JABIRU powerplants. The market is reacting though - my son just finished the first phase of LSA and Rotax training at a nearby A&P school (BRCC, Weyer's Cave, Virginia) and the classes were filled to capacity soon after they were announced. He just returned from AirVenture and has started working at a local A&P shop.
Sure there will be growth pains, but most of those who were instrumental in pushing this through (EAA, Dan Johnson, Tom Peghiny and others) appear to be pleasantly surprised with the rapid progress. I think it's one of the best developments in sport aviation in the past 30 years.
EAA 1114 (president) EAA506 IAC19 VAA3
P.S. - Please say Hey to the nice mates at SAAA chapter one in Sydney for me if you know them. I spent a pleasant day with them a few years ago while on business travel in Oz.