What are the advantages of buying a LP tank?
I am not sure if my comments, below, both reflect 'advantages' of LP cylinders, but they do represent the two primary distinguishing factors that I see between LP and HP cylinders:
1. The size, and buoyancy and trim characteristics, of HP and LP cylinders may vary. For example, use the Indian Valley cylinder chart that WetRocks provided, and compare the
Faber LP80 and the
PST E-7 80 (a HP cylinder), both of which are nominally 80cf cylinders. The HP80 is the same diameter, but it is 4 inches shorter, a couple of pounds lighter, but also slightly more negatively buoyant. As the capacity increases, you may find that the diameter of the LP cylinders is more likely to be 8”, rather than 7.25 (e.g., compare the PST E-7 120 (HP) and the Faber LP-120). For some, that larger cylinder diameter works well, for others it doesn’t (my trim is different with 8" cylinders, and I don't care for the difference; I have also seen more than a few dive boats that can’t easily accommodate 8” cylinders in their racks).
I find LPs to generally be a bit longer, and less negatively buoyant - which can be a good thing or a bad thing, depending on the diver's needs.
2. You may not be able to get a full HP fill of your cylinder at some dive shops. For years, I couldn’t understand that statement (I dove through, and taught through, a shop with a good compressor and a booster, and I used to dismiss such claims). Now, I am affiliated with a different shop, and I have yet to be able to get a full fill of my HP cylinders, even when the compressor has just been run and the banks are (supposedly) full. As an aside, I do NOT think that the ability to get an overfill of the stipulated pressure of an LP cylinder should be a factor in your decision.
My usual recommendation is to try several types of cylinders (size, LP and HP, etc) before buying. Most divers in the US train (in OW certification) with aluminum cylinders, and they come to steel cylinders without any in-water experience. Some divers find that they prefer LP, others (myself included) find that they prefer HP, based on the buoyancy / trim characteristics. Better to know before you buy, if at all possible.