My knowledge of it is limited to one reading of one article in a doctor's office. So, of course, I'll do what everyone else does and pretend like I'm an expert. From what the article said, it is in competition with it. Personally, I like the idea of string theory's "cosmic symphony" as Brian Greene puts it. But apparently there a significant number of cosmologists who shy away from string theory as they feel string theory it is "messy". One of the interesting criticisms of string theory was its extradimensionality (which is one of my favorite aspects of it). Extradimensionality in the first 10^-43 seconds is unnecessary if QLG is true (from what I understood). This has certain potential apologetic ramifications and so it'll be interesting to see how it all plays out. Personally, the idea of space/time as existing in discrete and separate packets seems really bizarre to me. But, hey, relativity seems really bizarre as well, so who knows? They should be able to measure radiation/light that has travelled long distances to test for the validity of QLG but won't be able to do it for several years... Also: the article said that they are attempting to resurrect the idea of a oscillating/reincarnating universe. So it will be interesting to see how the calculations for that play out as well.