The Ulu Watu have more power but the All Stars have a better bonus, more damage and are more versatile (Stop bonus, stop ability etc), even when tanaereva and Wee Lee were not banned i managed to win most of the matches against Ulu Watu Sakrohm with the All Stars Pussycats deck
of course the fear factor is important, I played a couple of matches with Lao Cr in my deck (arguably better than lost hog and Kinjo) but against experienced players is not really an issue because of the low power of these 1 hit ko cards. Almost all decks have good damage reduction (that's why lao is better cause he can get through some Pussycats) and almost all decks have some good defenders with high power, so the 1 hit ko cards rarely go through and even when you bluff with them it's either too clear that is a bluff or if the players defends it only takes 4-5 pillz on a powerfull card to defend from a 1 hit ko
a deck with fang pi can be one of the only decks that can defeat the All Stars in most matches, in my current deck i play Clara, kerozinn and Marlysa Cr - 3 cards that have higher power than lamar, and also Windy Mor defeated many lamars with his ability to stop the All Stars bonus.
Yeh, I dont have Lao yet. I could sell a majority of my doubles/triples and get him though.