DWT uses a kernel (the wavelet), LPC models the signal using its own past samples without a pre-selected kernel. I quite like LPC ou autoregressive modelling, as I prefer to call it.
Thanks for your interest. However, this article is related to feature extraction. I need somethings related to the computational cost, time, real time and feasibility.
The main advantage of not using a kernel is that you are not biasing the shape of your signal to be similar to an arbitrary, pre-selected shape. By using LPC you make only the assumption that the signal can be modelled from its past behaviour. In terms of computing, the Yule-Walker approach is quite efficient for LPC, and althought some authors question it, I found that it always gave me good results fof the signals I used (Doppler ultrasound derived blood flow velociy and heart rate variability). Best of luck.