The LCT-1V, I agree, strikes me as a death trap, and far too difficult to make a config that works well in MWO: with a single energy hardpoint center torso, and two ballistic ones in each arm, you're stuck either boating machine guns and either avoiding combat in a game that primarily rewards combat, or closing to close range in a 20-ton 'Mech, playing the vulture and preying on near-dead 'Mechs, where your machine guns have open wounds to exploit.
The only other viable LCT-1V strategy gets expensive, requiring an XL engine and ER large laser, to snipe from extreme range. That's probably more money than it's worth on the Locust.
I haven't tried the energy boat LCT-3M, so I can't day how that would work out, but, again,20-ton 'Mech, and energy boats aren't as optimal in MWO: it's harder to concentrate damage with standard lasers, firing rates are so much faster than on the tabletop, yet cooling is still based on a 10-second cycle, where double heat sinks are only 40% more efficient than standards. I hear the LCT-1Vb Royal Locust translates across acceptably, but, again, cost is high for a 20-tonner.
That leaves the missile boat LCT-3S, which I did buy, and turn into a mutant -1M/-3D hybrid 2 LRM-5s, 1 ML, 10 SHS, ES, 2 tons Ferro). The end result is a 'Mech that workd either fabulously or horribly, but is rarely boring. Not sure how an SRM version could work: you're probably better off with a Commando.