I have just tested LRS on two K-Wings with Concussion Missiles.
It worked very well for the very first attack, but you should not expect to get a second Target Lock afterwards. The K-Wings are far too stationary with their horrible maneuver dial, to actually stay away from the enemy.
Yes, of couse you could use the SLAM action to get away, but you can't target lock afterwards, because you have already got LRS on the modification slot, where you would need Advanced Slam to take actions after a SLAM.