I have a group of non-D friends that all went on the Atkins diet a few years ago, when it was more popular. One was a patient of Dr. Atkins. They all lost a great deal of weight very quickly.
They were only able to stick to the diet for a few months, and are now heavier than before they began. They are all in their early 40's and all have elevated HDL, blood pressure and triglycerides.
I've found the LC diet very effective for controlling BG. I think that the risks of elevated BG probably outweigh any risks associated with LC dieting. Either way, I prefer to have a clear idea of what the risks are.