This will work for most parts but there are lots of parts that have sharp edges under low angles (e.g. the low angle slopes)
I discovered that when I added smoothing to my LDCad editor, so using the edges during conversion is very important if you want to create hq/reallife renderings.
But given you only want to use it in blender, maybe you should also invest in converting the ldd data directly to blender (I'm guessing the ldd data has normals), then using the ldraw conversion draw your model, but use the blender objects for the final rendering (1 on 1 part mapping using the ldr).
Just my 2cts
I discovered that when I added smoothing to my LDCad editor, so using the edges during conversion is very important if you want to create hq/reallife renderings.
But given you only want to use it in blender, maybe you should also invest in converting the ldd data directly to blender (I'm guessing the ldd data has normals), then using the ldraw conversion draw your model, but use the blender objects for the final rendering (1 on 1 part mapping using the ldr).
Just my 2cts