The main issue about LR is the integrated package.
Magnificent databasing, organization, searching etc.
Develop has nothing different in terms of effects but is all done with parametric editing (no pixels harmed during this production).
Intuitive print module - sooo much easier to print from (now that soft proofing can be done in LR4 this feature alone is worth the price of the package).
Slide show module and web module for those that need them.
Map module for those that need geotagging.
Book module will likely continue to evolve into an even more robust feature allowing web-based publication and book production.
Don't get me wrong - I use PS for several reasons including HDR, merging, stacks, etc - but LR is most emphatically the cornerstone of my digital workflow. I enjoy PS but feel that LR is fundamental.
There are many different packages out there that when their functionality is combined can sort of emulate what LR does but there is NO other integrated package to match LR.
For the price I would buy it and learn it and then see how you might integrate it into your workflow.
My $0.2 worth.