I've been enjoying reading the replies to this topic and watching both sides.
I have experience with both sides of this coin as well.
For the record I first tanked LI successfully in a mix of Columni and Battlemaster about 3 months ago. Up until that first completion LI had been a pain in my backside. After running it all the way through and learning the mechanics of each fight it got substantially easier.
Now me and 2-3 guildies run this just about every day and we average 20-30 minute runs. Our healer chain pulls the trash. We vastly over gear it.
About two weeks ago I ran this FP with two people that are not comfortable with the mechanics, in mostly Rakata. We bombed terribly. They could not come to grasp with some mechanics on LR-5 and Sav-Rak (even after the simplification.)
I honestly believe that the flashpoint doles out gear appropriate to the difficulty, with one caveat, If you want an easy way to get the Rakata chest and Columni MH then you are going to have to put some effort into the mechanics of the fights instead of hoping that 7 other people carry you through an operation. LI-HM is a FP that demands that each participant be willing and able to deal with the mechanics involved in each boss fight.
If you feel that it is too hard, by all means stick to operations where there is a possibility that you can be carried though content. I love LI - I hope they release more 4-man mini-operations.
my $.02