Here are the 2 reasons why I like LTC:
1- CPU mining is not yet obsolete, so I can use GPUs for BTC and CPU for LTC on the same machine.
2- ASIC resistance. After ASICs hit the BTC network gpus will be much less useful for btc mining, might as well go ltc with them.
It's not ASIC resistant at all. You could make an ASIC for LTC if you seriously wanted to and though it was worthwhile. What you mean to say, more precisely, is that Bitcoin specific ASIC's (SHA-256) will not work for LTC. That said however, almost all of the rest of the bitcoin hashpower COULD work on LTC. So if you're happy about CPU mining, if all that mining power were to switch to LTC, all CPU miners would be similarly royally screwed. Not an ASIC but the effect would be the same. :-)