I find Lightroom very effective for selecting which images to process from large sets (600 - 1,000+ from a several hours' session of close-ups out in the field). I found Faststone Image Viewer pretty good for this, but now I have got used to it I find Lightroom even better.
I find Lightroom very intuitive to use for a large part of my photo-editing. I find I can control the distribution and quality of light and colours in my images (at both the large-scale and the small scale) better in Lightroom than in any other editor I have used (which includes CS2 and Elements amongst others prior to that). I find Lightroom intuitive in that I can think "I want to change the image in such and such a way" and can often do so very directly, quickly and with a lot of control using the main sliders. In contrast I found other editors less direct and less intuitive (e.g. using Levels and Curves, gamma, defogging and other tools).
I don't use Lightroom for sharpening because I need to be able to see the effect of output sharpening at full size for screen based output as part of the interactive editing process, and Lightroom doesn't allow this. I don't use Lightroom much for cloning/healing because even though they have improved this in LR5 it is still much slower and awkward to use compared to CS2, and in difficult cases I simply can't get the results I need with Lightroom. There are some editing options for stretching and squashing that I use in CS2 that aren't available in Lightroom. I use a combination of Lightroom and (layers in) CS2 for noise control (my images are often noisy, sometimes very noisy).
I don't use Lightroom, or anything else, for cataloguing my images at the moment. But now I have started trying to identify the invertebrates I photograph that might change. If it does, I suspect it will be Lightroom I use for this.
I use some additional software for mutli-image techniques - Zerene stacker for image stacking (improved dof for close-ups), AutoPano Pro for panoramas and Photomatix Essentials for (realistic) HDR. I suspect a more up to date version of CS might do most or all of this. But Lightroom certainly doesn't.
So I do find Lightroom an excellent tool, but for my purposes it is one piece of kit amongst several in my software toolkit.