As Patrick said, Lima had their strong points. Their moulding is very crisp in some areas, and some of their locos were well done. It was the lack of separately applied details and most obviously, rough, noisy motors in the British outline models that let them down. They were certainly better than the comparable Hornby diesels, wagons and in some cases, coaches of the time. Bachmann kicked up things a few notches but in fairness to Lima a lot of their stuff was tooled before Bachmann emerged on the scene.
I have seen a basic Lima Mark 1 glide down the slightest of slopes, offering next to no rolling resistance. Just what you want in your stock. As good as the Bachmann Mark 1s are, they do run like the brakes are on. In that regard, some models have go backwards. Just my opinion, of course.