We haven't been to LTT for lunch, only for dinner, but it was good. However, I prefer Tony's. This restaurant seems to be held to higher standards than most others, perhaps due to it's highly desired location or maybe people just expect more from Italian restaurants, I don't know.
But we went to Tony's for lunch in August 2008 and we had a great meal. The service was good, the restaurant was clean and the theming was very nice.
As with any Disney park restaurant, you will be disappointed if you expect a gourmet dining experience, but Tony's was excellent in our opinion.