actually it’s 3x8x2 = 48. don’t forget the midi sequencers each have 3 LFO’s. on the MD, you had to sacrifice a track to midi sequence something. i.e. the machine assigned to that track was the midi machine. and btw, another MD gotcha: shared global effects. and if you wanted to control, LFO or parameter lock them, you had to sacrifice a track to an effects control machine.
anyway… personally I’d rather have 3 LFO’s per track than 16 freely assignable ones. especially with all the ways you can create mayhem and variations in the newer machines without using any LFO’s. and the MD has at most twelve parameters per machine anyway. so the dream of 16 LFO’s making one track insane has only so much to give. though I’m sure you can have multiple LFO’s assigned to the same parameter…