12.10 FTW. LTS doesn't matter much. Its for those who do not like upgrading to the latest version every six months, or for maybe developers etc. 12.10 has more features(not to mention Gnome 3.6), more stability, more performance (even if it is a little bit), etc.
The LTS version gets a 5 year support and security fixes while normal desktop versions get support and security fixes for 18 months , but that is no problem, when you can upgrade your system to the latest with two simple commands and boom, you have the latest version of Ubuntu running on your system without the need of any installation, CDs etc.
My personnel suggestion, if you are familiar with Linux and you font want to play games, then install Arch Linux. You will run a lot of things, even during the installation.