I received my 1361 and I love it. The sound is excellent. It sounds just like a Legacy K4. As others have said, the small tender gap is very impressive. The smoke is also great. It smokes in big plumes but actually smokes a little lighter - No thick white smoke. This should be seen in person for best illustration but basically the smoke is lighter so it dissipates faster and scented smoke fluid actually smells like the scent instead of the burning smell everyone hates. Also, the firebox flicker is great.
One area for improvement (though not a huge deal) is if Lionel would allow you to switch out the cast-in front coupler for an O gauge coupler to allow double heading. If this were the case, I would have bought two since LC 2.0+ is basically TMCC and should have that ability. The pilots are brass parts so I imagine this should be doable.
All in all, very impressed! Hoping to enjoy mine for many years to come!
Really hope Lionel offers the LionMaster T1 with LC+ 2.0 in the near future.