You cannot compete in the breed ring/conformation with limited registration. Registration must be full to show. That is the only thing that limited registration precludes though and dogs with limited, or no registration, can do obedience, tracking, agility, IPO, dock diving, flyball and pretty much everything else.
If you don't plan to show in conformation and don't want to breed, then there is no reason to need full registration and limited is just fine. I do not understand or agree with the idea of charging more for full registration vs limited registration.