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Under 5th, Land Speeder Storms could be really nasty as a "scout missile" 1st turn charge against a high priority target (like a big tank) by dropping off the scouts, combi melta-ing it, and then charging with meltabombs or a PF. Now however that has been negated in 6th and you can't get a 1st turn charge off with an infiltrating unit. It also doesn't really (see below) work as a gun platform as it can only move 6 inches and have the passengers fire from the speeder.

The only way I can think that it now works is a either:

A

A semi mid-range platform with some bolter scouts and HB on board as harrassment. The only thing this really works against though is assault heavy units with some spongy soft areas to take potshots at. Still, seems too expensive for what it is ( you could take 2-3 double HB landspeeders for the same points and have redundancy).

B

A suicide gun platform with a ML and combi melta. Deep strike in and take out something high value, then harrass an objective with the scouts (assuming they survive). Still expensive and melta speeders seem to be better in my mind. Plus if you are only playing for kill points you are handing free kills to the enemy.

Thoughts?

Use it as a late-game objective unit.
Come in turn 2-3, and zoom up the table.
Pop out of cover turn 4 to get close to the objective, and gun away.
Move in and dive out. Shoot more if you have to.

The problems are staying out of LoS or cover in the early turns, and making it to the drop-off point in one piece.
It's the only fast troop transport in the codex.

A razorback would live longer, and you can put proper marines inside. You'd have to be lucky to get it far across the table and keep it alive.

If you are starting in reserves, can't you outflank it? It has scout, but it's been a while since I looked up the relation of embarked units and non-dedicated transports, but I think this should work. Using this, or deep striking, you should be able to go for a late game backfield objective grab/linebreaker. Of course, a tac squad in a drop pod can do that as well.

One thing about scouts (and the LSS/bikes) is that they add a host of extra tools and rules that are normally lacking in a marine list. When you are building a list, scouts look a little "meh" but when you are deploying your forces, you can look at how the terrain is on this specific battle field, and pull out a trick with scout/infiltrate that pure math doesn't take into account. LSS's are like that. From a numbers standpoint, I think they are sub-par. From a fun options standpoint (and looks) I like them.

My big problem with them is eating a whole FA slot.

well... since you can't first turn assault with a powerfist/grenades anymore... its a lot weaker...

If you outflank and then try to hide to take last turn objectives it can be decent... but I'd run with a flamer/heavy bolter, scouts with shotguns, and the sarg with a fist.

the 8 shotgun shots, small str 3 blast from the sarg throwing the grenade, and the assualt to clean up sounds solid to me...

Technically you can first-turn assault, but you'll have to be going second (the bit about first-turn assaults refers to first player turn not game turn). Of course, then you'll have to weather the first turn of shooting.

I've thought about adding one to my White Scars - I could see an out-flanking CC unit with a combi-weapon sarge being pretty handy for hitting enemy heavy support choices or light backfield objective holders. The problem comes with the LSS's use of a fast attack slot - in my army they're at a premium, and I just can't afford to spend one on a transport that will probably die and deliver a not-very-impressive cargo.

Hopefully once the Space Marines get a new codex they will move to being a dedicated scout transport, in which case I'll consider it a much more viable choice.

Don't forget, -2 Leadership to the unit that you charge if you disembarked from the speeder that turn. A heavy flamer popping up out of no where could really hurt the likes of Tau and Eldar who are trying to hold objectives in the backfield. Then, the next turn you could disembark, shotgun someone and then assault. Tau are pretty terrible in close combat so you should sweep them. A powerfist would even let you deal with a broadside squad.

Of course, you have to be wary of the quadguns and interceptors out there.