As I've been heard to say many times, I love to fly! But you couldn't get me in one of those rinky-dink play planes at gunpoint!
Robert,
G'day,
Problem is...that some of those "Rinky-Dink" aircraft out class both in flying charactoristics and construction what we are flying!! - to some point, I agree with you, but when comparing apples witgh apples, there is a compelling argument not to overlook the category. Down here, there is every possibility the RAA -
Recreational
Aviation
Australia - (your LSA equilevant I guess) will be sucessful in pushing to take under it's wing everything up to and including 750KG's - if this happens, well, 150/152's, Tomohawk's and a few others all make it into the category.
Right now, you can actually register as Piper Colt in this category, even a friends Aeronca 11AC (with a lable restricting the all up weight on the panel) is regestered in this category, and lets face it, who is actually going to check the weight matches the sticker - heck, I even flew it with a friend on board, and without actually doing a weigh in, I "suspect" we may have been a tad over..
I truly hope this happens down here, as it will give a chance to self maintain our own aircraft category - hey I might even buy another 150 - ( but this time an Aerobat)

Don't get me wrong, I was once a person who (in some way) looked down my nose at this category, but, just about everyday I find more and more aircraft the make me re-adjust my attitude. The only thing holding me back is, well.....
Price 
. Even my gas guzzeling slow old Airdale (albeit, fully aerobatic 4 seat aircraft) is cheaper to own (purchase price wise) than some of these new Sport Aircraft - I have to use a heck of a lot of fuel to even catch the initial purchace price of some of those new LSA planes.
As I said, I was a sceptic too, but I have to say some of them are pretty smick indeed

Cheers
Cheers