Well, I think that for neps, the peat moss must be wel drain to be used. Although I haven't sown any nep seeds yet
but, I am planning to use peat moss and see how the effect is. The reason why I like peat moss is that it doesn't stink(it took me a long time to realise this, thank you David for telling me), it is very compact and it helps seedlings establish themselves more effectively than LFS.
Cheers