I just picked up a LP1 a few weeks ago, just for personalizing wood pens, and it does a great job. The LP2 is more powerful and faster, so I expect it will be at least as good. I did a couple of test runs on scrap first to get the settings right. In the app, you can set the power and depth as a percentage from 0 to 100, as well as the number of passes (up to three, if my memory is correct). I have mine at 100% power, 60% depth, and just one pass, and I'm very happy with the results. I could probably have done two passes and it might have come out darker and deeper, but I didn't feel the need to. On this pen below, I did the rough sanding (150 & 240 grit) before engraving, then finished with 320, 400 & 600 paper, and sponges up to 3000, before finishing with EEE and Shellawax.
My only issue with the LP1 is the flimsy tripod. I drilled foot holes into a plywood board for a base to keep it from collapsing, and that's been working fine so far. I would recommend the LP2, as long as you're only doing hardwood or stabilized wood - though it may also handle plastics, I'm not sure. If this LP1 ever dies, I will definitely upgrade to a LP2.