Hi Ratty. I've a couple of friends ( honestly I do!) who have used lomo wet suits for years for diving and really like them, they are great value for money.
We see lots and lots of water skiers and jet ski users in lomo suits too.
Personally I've got the lomo wetsuit booties and think they are good.
The factory outlet is only 15 minutes from me and they staff are really nice folk too.
If your looking for a value for money suit then I'd recommend lomo.
I might be wrong but AFAIK the suits are designed predominantly for surface watersports so will use neoprene that is more flexible, so more compressible.
It just means they won't be as warm at depth as a diving wetsuit.