Here's my 2 cents worth.
I'm with Elutris somewhat about lomography. I totally enjoy the philoshophy behind the movement: carry your camera every where, be ready any time and shoot without thinking. The benefit of these 'toy' cameras is that you can carry them around easily and since they're mechanical and totally focused at infinity, you can point and shoot very quickly to catch any spontaneous moments that would have been otherwise lost.
In many sense, you can replicate the experience with other cameras, but it's not really the same. It's the same way that using a RF has a very different feel from using a SLR and the attitude to shooting is different as well. When I carry my lomos, I shoot much more recklessly, and break the rules that I normally have in terms of composition, subject matter, so on and so forth. You can obviously do the same with any other camera, and I have tried with my DSLR, but somehow using the large awkward camera that way just didn't feel right and my pictures show it. Using a Leica is the closing I get to the feeling, but even then, there's the temptation to try different focal lengths, or aperatures and stuff.
The most important thing about lomo cameras is about having fun and embracing the unpredictiability. I don't think that many of my lomo pictures are keepers, but it was a blast shooting them!