I believe that the lite had a lighter flywheel which saved a few ozs and made for quicker throttle response-but of course made a slight change in the powerband and torque performaqnce.
If anyone is still looking for a new 288, the same one that was $600 is now relisted at $500 on ebay. That's a good deal and i'd buy it in a minute if I had the extra bling-bling...