I simply think that life orb recoil is a very high price. I don't say it's not useful, but i don't like the idea much.
Going for either life orb and choice band/specs means that you want to hit very hard. But in early game you are likely to get stalled, so you lose 10% with life orb and u'll probably have to switch. Next time you use your life orb poke you will be taking a hit to switch in (and life orb pokes don't tend to have good defences) and again 10% to hit something, and you'd better hope your opponent won't stall you again.
Now you say: I can predict fairly well, so I don't care about my opponent attempting to defend. Ok, but you're actually dealing more damage with choice band/specs.
Or: I use life orb because i don't relly much on my prediction. Then don't use the attack boosting strategy at all, you're not ready for it yet. Choice band became popular because setting up is difficult and players realised that, with skill, it could be exploited with success.
I'd say that life orb is fantastic in end game, when the walls are out of the way, but I think that hard hitters have to be used as soon as possible.
Nevertheless, life orb is still a very dangerous and useful item that i don't personally like.