I don't particularly like Life and Death as much as other works but I don't regret picking up the collection.
Life and Death's problem for me boils down to it being filled with practically identical characters (to the point I had no idea who was getting killed off), and the main characters not really having much to say or do. The art is also not as good as Fire and Stone with it being more cartoonish which makes the stylistic differences between franchises all the more
apparent.You can basically tell that the Colonial Marines, Aliens, Engineers, and Predators were never meant to occupy the same space.
While we don't have issues conflicting with the Alien Prequels, we do have issues with the goo which is due to it not really having an established rules beyond it being a mutagen and not knowing how or why it affects things the way it does.
All things considered it's alright and it's leaps and bounds ahead of prior AVP books but it just doesn't live up to its potential that Fire and Stone does.