They are very different tools, so I would advise you to take the time to really understand which is more appropriate for your use case before making an investment, spend time playing with both and both of the accompanying software programs.
The LM44 is one of two processors that would commonly be accepted by a touring FOH/SE so if you need to be rider friendly and support those acts coming through, they will either want to be handed an LM44 or a Meyer Galaxy. Speaking personally, if you were driving your system with a P1, the riders for the acts I currently work for would require that you put a Galaxy in front of it or in place of it.
LM44 can do group / overlay EQ which is a big part of a typical touring FOH engineer's workflow and you don't find that feature on other processors in the same price range. But it's a relatively old product, and I can't speak for how reliable the support / development will be going forward. I also find 4x4 quite limiting in terms of IO however for a typically small to medium scale system that is LRSF and no need for console switching or house music, it might be just fine as long as you have processing downstream.
If on the other hand it's just for "internal use" and not something you need to hand off to visitors, you should get whatever tool you feel more comfortable with and suits your needs better. Define your use case clearly and then familiarize yourself with all the options so you can figure out which is the best for that.
