lucas-one,
if you trunk (HP-wise), or aggregate say 4 individual 100 Mbps links into a LACP or FEC trunk between 2 HP switches, you'll have a theoretical 800 Mbps FDx (400 Mbps down-trunk + 400 Mbps up-trunk, so to speak).
LACP is IEEE-standards-based Link Aggregation Control Protocol, whereas FEC is Cisco-proprietary Fast EtherChannel.
From previous posts on this subject, it seems LACP sends everything down one physical link in the trunk if it has to handle say 95 Mbps of down-trunk traffic, and uses 2 phys. links if it has to handle say 175 Mbps - and so on: it uses more phys. links until the max capacity of 400 Mbps oneway-trunk. It does not seem to balance the 95 Mbps over all the 4 phys. links. I guess you could look at the internal workings/specs of the standard, if these are public domain, and posted by IEEE.
Seems that FEC does this balancing regardless of the data flow it has to handle, and is more capable than LACP in this respect (and others, I would say), however since it is proprietary, and NOT recommended anymore by manufacturers (Cisco included) for interop reasons, it could be harder to find the specs to have a look on them - to clear the air on what this protocol actually does.
Enough?