I posted this info on the chainsaw forum, but will add it here, too.
In the interest of science, knowledge, and truth, I cut off one side of a 3/8 rim sprocket so we could visually inspect how the drive links fit on the sprocket teeth.
The rim is a moderately well used Oregon 3/8-7. Made of hardened tool steel, it was tough to cut, however, no effort was spared for the benefit of my good friends on AS.
Showing new 3/8 Oregon chain. Since I have no way to apply torque, the drive links are not necessarily pulled tight against the sprocket teeth, however, you can see that if it were pulled tight, it would fit fairly well.
Showing new Oregon lo-pro. Only 2 drive links make positive contact with the sprocket teeth. The other drive links overshoot the teeth. Even though lo-pro has the same pitch as 3/8, a slightly larger rim diameter would be necessary to compensate for lo-pro's narrower side links (a picco rim does have a larger diameter, but I suspect it would be too large for lo-pro).
Showing used Carlton lo-pro. Again, only 2 drive links make positive contact while the others overshoot the sprocket teeth.
Well, I hate to admit it, but Saw Troll was half right.
The difference in the height of the side links does affect the way lo-pro fits a rim sprocket (dunno about how lo-pro fits on a 3/8 SPUR sprocket). The drive forces will be carried by only 2 drive links instead of the usual 3. That's more stress per tooth.
That said, it's not the end of the world. People have done it, are doing it, and will continue to do it until lo-pro rim sprockets are made available.