I have run into problems adding extra class files into my latex installation and getting them to work with lyx. (I know, install, run something to reconfigure latex, reconfigure lyx, but it is never smooth sailing for me)
It may be nice to have a boatload installed by default or as an option. Some to consider include things like prosper (for pretty powerpoint slides) or some widely used professional styles (IEEE, IFAC, others). 1.4.2 already has .layout files for a lot of things that apparently did not get installed in the latex default package (or maybe 1.42 added more layouts that were not included in the 1.4.1 latex I am using). Why not have a install option for "extended latex". I know originally they limited the extra stuff in LaTeX distributions, but the way HD space and bandwidth is now days, how much does an extra few MB cost us...