12 shots, 15 yards. Six shots, speed reload (I have a spare magazine), six more shots. Done with a timer.
I didn't get all the shots off within the time frame I set, but with a pistol like the LCP I'll take that performance any day. I could not have performed that well with just the iron sights at that distance.
Lasers are to the handgun what the red dot sight is to the carbine. It's an easier means of obtaining an aiming reference, especially in low light and under stress. The laser also tells you what you are doing with your trigger pull.
Lasers don't magically make you an accurate shooter. They simply show you what you're doing. No gadget in the world will help you if you jerk the unholy snot out of the trigger...but a laser CAN help you see that you are jerking the unholy snot out of the trigger. Lasers give you a more exact aiming reference than iron sights do, allowing a lot of people to shoot smaller groups. In the brightest daylight the laser does wash out...but most fights don't happen in those conditions. If it does happen the irons are perfectly useable at that range.
As Todd said, you have to learn to execute a proper trigger press while the laser is wobbling on target. The laser will never be still. If you get the dot where you want it and think "NOW!" and then pull the trigger, odds are you will jerk the unholy hell out of the trigger and miss by a mile. If you keep the laser within an acceptable wobble zone and execute a proper trigger press you'll hit.
To properly use the laser you index on target just as you would if you are using the irons, engage the laser, and execute a proper trigger pull. Once you can do that, start doing multiple shots to practice reacquiring the necessary dot picture. Then practice drawing the weapon from concealment and activating the laser as you present the weapon. Start slow at first to learn to do this smoothly, then worry about speed.
Shoot at a target similar to the one I'm using in the pictures I posted. Run some of the drills Todd has on his website with your LCP. Holding yourself to a high accuracy standard in training will help make you faster and more accurate overall.
Personally I wouldn't be carrying the LCP without the laser. I view the CT laser module to be that important to the serious defensive use of this weapon. I've learned the value of lasers after some quality training and time spent using them on the range and I've come to view them as an absolute necessity on weapons like the S&W J frame and the LCP, and a really really really really REALLY good idea on service pistols like the M&P.
Tiny guns like the LCP are a MAJOR compromise in the concealment vs. capability spectrum. The CT module helps to ameliorate that gap, in my opinion. I've heard guys say that they don't plan on using it at more than a few feet anyway, so why bother with a laser? Those individuals are looking at the situation all wrong. You hope you don't have to use a firearm to stop someone who wants to kill you.....ever. If you DO have to draw a gun and aim it at the face of someone who wants you dead, do not expect that suddenly the world is going to go your way. Accuracy (because only hits stop bad people) under gunfight conditions is no small order for highly trained individuals using a full-sized handgun at fairly close range. It's not going to be any easier for those who don't shoot people for a living that are carrying a tiny weapon like the LCP. The CT module helps make the sight alignment part of accuracy (and perhaps in some limited circumstances the trigger pull part of accuracy) easier under stress.
When it comes time to contemplate the use of a firearm for serious social purposes, one must remember that often the only advantage they will have is the one they give themselves ahead of time.