Rob,
Can't speak for Biggy here, but if you look at the topic, it was about LP blockers, who plays with OX lp. That limits there possible returns and ability to manipulate the spin. If you are up against chopper with a sponged LP, it's a completely different thing, cause then you will have to read the ball for the spin, as there is no longer a way to know what spin is on the ball.
As for re-looping a loop with lp, I've heard claims of this being possible a lot of time, perhaps it is, but I have yet to see some one who is able to re-loop a strong loop with lp. And, even if they could, it's a high risk shot with little reward, so not a shot worth considering as an option.