Lite-C is a general purpose language based in C but which can also access the Ackneck engine features. - LiteC has been designed for the use with the acknex engine. It would make no sense to use it elsewhere, because then you can use ANSI C or C++ or whatever. You have to differ between LiteC as programming language and the A6/A7 engine instructions which are acknex-only.

Creating games in Lite-C is pretty much like using A6, but instead of the WED-based approach in A6, I will start my project in the main script, loading levels and content from MED/WED. Other than that, there's little difference of how it all works. (Except of course the syntax). - I never used WED to adjust game values, nor I started the game via WED. So, if you were used to this method, yes, you are right.

Free Lite-C will allow me to use all features I have in my A6 Commercial 6.60. I won't be able to publish commercial games, but then I will buy either Lite-C non-free, or update to A7 Comm and so publish my game. yes - but there are still engine limitations. Read on..

Commercial use is the ONLY limitation of free version of Lite-C. - yes. But remember that the free version of liteC is only a subset of the A6/A7 engine at the current time. You can compare the free distr. feature set with the extra edition of A6. If you buy a better A7 edition, you get A7, the tools (which you don't have with the liteC distr. except MED) and, of course, the features.

All C-Script functions and instructions are available in Lite-C currently. - yes

I can use other C features and C libraries, like string, arrays, vectors, math, etc. in Lite-C. - yes

I don't use templates, which would be a benefit of C-script over Lite-C right now, so that's less an issue to worry about. - if you are an experienced programmer (as you said later), you should'nt use templates if you want to do something on your own.

I know C-script pretty well, and have also coded in C++. Lite-C will be easy for me. - if you are experienced in C, yes. There are some things which aren't supported by LiteC yet, but these will follow soon.

Lite-C will get more support in the following years than C-Script. - Lite-C will replace CScript this year (in the meaning of support and development),.. CScript is a dead horse, so to say. You can still use the CScript instructions under A7 (because the CScript compiler will be included a long time), but most new features are - or better said - will be LiteC-only.

[EDIT]

Even at the present time LiteC is superior (except for shaders, because they arent implemented/enabled yet) over CScript. This gap will be widen sooner and faster.