Would be worthwhile if acceleration is the be all, IMHO, especially as the auto gearbox is geared a bit tall at the low end to get away from the lights fast and the top end of the speed envelope is not really open to sensible exploration in this country.
It's a relatively small change in gearing in the overall scheme of things, though, so I wouldn't expect a "night and day" improvement. You'd be better of fitting a driver involvement pack if that's what you're after.
Some of the ratio change will just be winning back what you've lost going to big wheels, of course.

LSD? Not convinced either, TBH. A 3.2 auto breaks traction so rarely in "normal" fast road driving on dry surfaces (yes, I know it can be provoked, but..) that it wouldn't add a lot, other than making it a bit more prone to the back coming round in the wet. Not that I've driven an Omega with an LSD extensively - it's just that the back end of mine stays firmly planted when I'm pressing-on
smoothly. The only thing it might improve is when the inside wheel is unloaded almost entirely - i.e. emerging from T junctions when the inside wheel is prone to spin.
Economy? I reckon the 3.2 is geared a little high for UK cruising speeds anyway. Engine will still be doing the same work shifting the car - just at slightly higher RPM, which may or may not be a more efficient speed. You will see a reduction in economy at high motorway cruising speeds, but you'll probably win it back at A road mimble speeds where these days it's hard work keeping the autobox in 4th.
Kevin