Stephanie,
I'm in the very same boat and we're holding out for First Form. I almost bit the bullet and purchased LL2 b/c we have it enjoyed it, but when I saw the samples of First Form, I knew it was what I wanted. My understanding is this-- if latin studies will be a focal point of your curric. for the long haul, head to First Form (next year there will be a Second Form available, and so on). Skip right on over LC2 and enjoy!
For what it's worth-- we're on the last lesson in LL1 right now. So we're stretching it out and reviewing lots. Soon we'll break for summer and hopefully by the time we're ready to start school in the fall, FF will be available. If it's not, perhaps I could grab the beta version, though I'd much prefer the *books.* The series is supposed to be ready by August... I sure hope they're right!
Good luck!