The L-Sit is good, but the V-Sit is even better (IMO). Of course, it's much more difficult. I'm playing with it. I know it looks like three seconds in the hold wiped me out, but this is at the end after a shitload of other calisthenics.
Good news for those who have moved beyond step 2 in Handstand work without passing the progression standard- you might get really strong and still not have the endurance to pass step 2. That's what happened to me. It's all about the practice I suppose. Two full minutes in a HS is quite long I think, and certainly not absolutely necessary for further development in that exercise.