I've got both, or rather the Edwards and what used to be an LS-150 (now LS-195?). Anyways, both wonderful guitars. The Edwards is super light, around 7.3 lbs. The Tokai is much heavier (dunno what weight) but is more 'traditional'- two PAF-style humbuckers (which personally I don't like in a LP), solid top, 1-piece back, etc. I believe it's more like a '58 as opposed to a '59, but those who know more will chime in I'm sure. Anyways, since I got it used, for the money the Tokai is a far superior guitar in terms of build and 'old-time- specs. Nowadays, they're much pricier. Kind of funny - a few years ago I was asking the SAME question as you. I opted for the LS-150, granted I found one used in great condition for less than a new Eddie. On my last trip to Tokyo, I picked up the Edwards. I'd probably buy the LS-150 again but probably not the Edwards.
Pros and Cons?
LS-150 Edwards
heavy light
2-PAF tons of options with push-pull
solid top veneer
new reliced so not so worried about a little bump
lacquer lacquer top coat
$$ $
Good luck with the decision
Jason