LPVO is superior in every way except one. Battery life. If you want to use the “works like a red dot at 1x” feature, be prepared to chew through coin cells.
I have LPVOs in 1-4, 1-6, 1-8, and 1-10. Higher max magnification seems to come without significant drawbacks except higher cost, and I like very much the ability to zoom in to either positively identify a target or make a more precise shot.
LPVOs will have adjustable ocular lenses. For me, it allows me to shoot with or without prescription glasses by adjusting it for either condition. My eyes don’t need much correction, so your case may be different.
I’ve wanted an ACOG for 15 years, but can’t bring myself to buy one. My current favorite setup is the Vortex Razor Gen 3 with a Trijicon RMR mounted on it at 12:00. It does everything well.