When comparing Old School Reference and Indexing Compilation (OSRIC) vs Lamentations of the Flame Princess, the Slant community recommends Lamentations of the Flame Princess for most people. In the question“What are the best tabletop RPGs?” Lamentations of the Flame Princess is ranked 28th while Old School Reference and Indexing Compilation (OSRIC) is ranked 32nd.
Ranked in these QuestionsQuestion Ranking
Pros
Pro AD&D 1E aligned to d20 SRD
OSRIC is based on the well-known 1st edition of Advanced Dungeons & Dragons, arguably the most popular RPG of all time. It doesn't stick to is slavishly, though, but instead brings in a few innovations from the later "d20 SRD" to regularize the system a bit and fill in some of the gaps. It is, however, still very much a 1980s system.
Pro Characters don't ever become too powerful
Pro A different take on magic
Pro Streamlined
Simple, streamlined rules for old-school crawls (most of them organized alphabetically).
Cons
Con Complex and inconsistent rules
There is no "general system" for doing things in the game - everything is a special case. This can result in a lot of page-flipping to find the particular rules for something, and in problems for new GMs who don't yet know the system well, or who aren't comfortable with improvising.
Con No power gain
Characters don’t ever become too powerful.