Locosound came out as a low-cost, conventional-only alternative to PS2. If I recall correctly, the Locosound boards use the same plugs/connectors as the PS2 boards, and the speed control electronics, as well as the smoke units, are identical to those found in PS2 engines. Thus, upgrading a Locosound engine to full PS2 sound and command control is much easier than doing an upgrade from scratch.
Well, they do use the same connectors as the 5V PS/2, but there would still be a bunch of wiring to go to full command capability.
I got smoked on another forum section about a comment I made concerning continued availability of the electronics for Lionel and MTH. The mechanical E unit has served for many decades with Lionel, but with the advent of basically, computer controlled locos, who will keep updating, repairing, or building boards from scratch? The IC's used in these devices go unavailable in just a couple years, that requires someone with the tech savvy to take a newer chip and adapt it to an old circuit or rebuild a board entirely. Several responses came back saying things like 3D printing and software engineers in the hobby would probably fill the bill, so, if that is the case, who is building the 'plug in' boards to put in 30 year old locos that either did not come with them, they were an option, or to replace bad ones? There is a ( relatively ) inexpensive MTH Challenger from 1996 for sale now with no sound boards, does have the whistle, but no other sounds. To put the boards in it, you have to find someone parting out a loco, or a set that just shows up for sale one day, or know how to make more modern boards function in an older loco. There could be a day when your Lionel 2-6-4 is still chugging around the layout passing you dead MTH, parts unavailable show piece.
I have to go with Mellow Mike here, I think you should concentrate on enjoying the hobby your way, buzzing E-Units, AC motors with jackrabbit starts, and of course the mechanical puffer smoke units.
Meanwhile, I'll continue to enjoy it my way. My way it with all that fancy electronics, great sounds, great smoke, fancy gimmicks like electrocouplers, swinging bells, cool lighting effects, etc.
Maybe in your zeal to stay in the 1960's, you haven't kept up as far as replacement electronics. I've upgraded a ton of older MTH steam to full command control and sound with ERR boards and with the MTH upgrade kits. I've also bought boards from Lionel parts and done Legacy upgrades. If you have a dead MTH Challenger and can't get it running, that's not my fault, I can sure get it running, and a host of other people posting here on OGR would have no problem getting it running.