A Laplink cable can be seen
as a parallel equivalent to a serial
null modem cable. Because
of the higher bandwidth of the parallel port versus the
serial port, a Laplink cable is able to shift data more
quickly at the same clock speed,
which was important at the time it was developed, since
clock speeds then were relatively slow.
This is still the reason it is used (rather than a RS-232 port) as a means to install GNU/Linux to machines without a CD-ROM/DVD station or Ethernet port built-in. And can also be used as an (additional) failover link between ha-cluster nodes.