Before reading this post, just know I think you should definitely try out both mods. It's easy enough to do and who knows better which you'll like more than yourself?
Some of my reluctance to use RA exclusively or enjoy it thoroughly precisely comes down to just how much
stuff is in that mod. Trying to become familiar with all the platforms, weapons, sound emissions, detection ranges, etc, etc becomes a full time job. I consider myself more of a casual player (two hours a week generally scratches my itch), so LWAMI is a happy medium between the stock game and the off the charts RA. My enjoyment from Dangerous Waters comes from going through the procedures, slowly building up a track over time, engaging, and completing the mission. The melee that tends to be Dangerous Waters multiplayer is not usually my cup of tea. In addition, the AI in RA is more aggressive than the LWAMI AI and I prefer conducting my ASW in a more relaxing, methodical manner. Playing RA is like playing a sport, it can be very intense and exhausting but perhaps more rewarding. I like LWAMI for some personal time and unwinding my week, not necessarily for a sense of accomplishment like playing a competitive sport. Perhaps that's much more info than you were looking for
I've heard RA 1.50 is good so I may consider trying it out. However, LWAMI suits my needs perfectly. I also thoroughly enjoy their well-documented manual and better overall documentation (very much a personal preference) as to what was changed in the mod and why and how the game of Dangerous Waters works in general. Definitely worth a read even if you don't use LWAMI.