Well, you should always include more information about the used system. So Processor/Ram (amount+speed)/hdd (type/size/speed) are the minimum. The OS including distro and exact kernel version, which runlevel and perhaps other demons/programs which may influence the results. If you use a real network it's often of interest which cards/chipsets/switches you've used.
Beside of that, ab in version 2.0.x is not very good. Better would be the older 1.3.x or, for some tests, httperf (also free and together with autobench really convenient). The local loopback is also not so good, but as long as all contestants run on the same machine it can give at least give a clue about the effectiveness. Sadly it ignores network specific things which can have a huge influence on the real world speed of a server program. In case you want to test huge files over a network you might have to start including the CPU usage as then the connection will be most likely the bottleneck.
If ab stops dead after a few thousand requests, check the number of not completely closed sockets. Might be that LiteSpeed uses something like a linger setting which might be bad in such a local loop test scenario. Then you'd have to run multiple tests with only 10000 (or whatever still works) and compare the averages for the contestants.