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Furthermore, if I recall correctly, the M-Powered and LE versions do not support TDM/TDM II plug-ins, and possibly neither the RTAS plug-ins
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Well.... I can say LE supports RTAS. Otherwise, what plugins would you expect us to use? VST isn't accepted, unless you use the Adapter.
I'm not familiar with an ADAT system, but I would think if you haven't got any Digidesign products to turn in to get an 'upgrade', they may not offer you an upgrade path. I think this mainly because if you are not using a program or devices from a company, then you couldn't consider a first purchase as an 'upgrade', as you have nothing of theirs to upgrade from.
Otherwise, if you do have some stuff from them, maybe you can find a path.
If you plan to buy LE or M-Powered in order to try to quickly move up to HD in some upgrade, I think you may not want to buy LE or M-Powered at all...