Lite sounds a bit like stripped down. In fact, it is not. I've installed it on my HD because I knew what I was doing and I must say this is the most elegant version of Xfce I've ever seen (bear in mind my first Linux was Ubuntu 4.10 Warty Warthog and from that day I've always used Linux on my desktops). Actually, IMHO Lite is much more elegant than the Gnome edition because "it is the way it is" without extensions and workarounds. It's cleaner. It's not even a "pure" Xfce because of Gedit, Registers, Baobab, Disks and some other software taken from Gnome...
Ok, I could talk about it for hours but I stop here. Just to say thay maybe Lite is not the best name for it.