Unfortunately handset makers have been looking for the sweetspot screen sizes, so they are throwing a lot of screen size/aspect ratio/screen density combos out there to see what sticks.
I don't know of any app making software that can rearrange an app made for a 7" 16:10 320dpi screen and automagically rearrange the interface so it fits it perfectly to a 4" 4:3 120dpi screen.
A perfect layout for one person will be a bad layout for someone else.
Might work for an app with only a couple of buttons but anything complex will have to have GUI objects resized and reshuffled, maybe hidden or moved and repositioned to a second screen.
I've used other app making tools and they don't do a better job than LC.
see Supporting Multiple Screenshttp://developer.android.com/guide/prac ... pport.html
as a general guide to see what we are up against when trying to find an easy way to build interfaces for different devices.