Back to the question asked at the beginning of the thread...
I have gone through an evolution of starting with a Condenser head on a Beseler 23C, An un-stabilized 23C cold light, A stabilized 23C cold light, Stepped up to a Beseler 45MX with Coldlight, A zone VI 5x7 Variable Contrast cold light and finally, an Saunders LPL. This has been my experience.
I found that the condenser head highlighted every little scratch on roll film and required ample use of edwal no-scratch - a pain. A the time, I was attempting Zone work with 35mm and was rewinding and redeploying film in cheap snap caps multiple times. Ansel's books influenced my decision to go with cold light.
The regular Cold light is fantastic on graded paper. Scratches and dust disappeared magically. Using it in an unstabilized mode was extremely frustrating and not recommended. Once stabilized, I loved it. I tried using it with VC papers and found that the (40Y?) [it has been a while] filtratation was still not giving me the response I wanted and was requiring longer exposure times.
The Early Zone VI enlarger was a piece of junk. Picker rushed it to market with an unstable negative carrier and other problems. The light source was, however, very effective in drawing out the full responsiveness of VC paper. Its only problem (this light source - I can't speak to others) was excruciatingly long exposure times with 4X5 negs.
The LPL is a diffusion head and gives the same light quality as the cold light. I love the speed and the ease of use and no longer feel the need to be looking for something better - much to the relief of my wife.

The drawbacks - Unlight the cold light, the halogen light source produces heat and necessitates the use of glass carriers to avoid negative pop. It, like most enlargers, has an abundance of light leaks and after properly sealing these, your unit will end up looking a bit ragged with black gaffers tape.
I recommend the dicrohic head (either the B&W VCCE or the color head) to anyone who is looking. It is an excellent light source and has satisfied my needs nicely. I feel confident that I am not being held back by my equipment.