Considering how full ABC's schedule was at that time, the only option would've been NBC who were incapable of keeping the soaps they DID have from spiraling out of control (which spoke more to problems with the network than anything else). I think if they had chosen LOL, they would've put it in the 12:30 slot. I hypothesize that CBS would've canned SFT in '82 anyway, and as soon as Y&R moved into that 12:30 slot, any headway LOL would've made at NBC would've vanished and they'dve been off the air by 1984 at the latest. I don't think any amount of good story could've helped that show at NBC.
MAYBE at ABC if it were put back in the morning, but then it would've run into Price and I don't know that running opposite Price when they were pulling in ratings in the 8's would've been much help either.
CBS had a very strong lineup, but when the weaker pieces of that lineup were pulled away, you really saw how strong CBS was as a BLOCK, not necessarily the individual shows (with the obvious exceptions of Y&R, ATWT and GL).