A couple of points:
1. The LC 475 is probably my favourite 68K mac. It is very upgradeable and can run almost all 68K software well.
2. It needs a PRAM battery to start up. Originally it came with a 3.6V ½AA battery and the battery requires at least 3V to start the machine. I use a CR3032 in a 3D-printed holder. Mine is from MeowToast from Etsy and there are other models available. A new 3.6V ½AA battery is not a bad choice. just remember to change it in 20 years' time.
3. The single RAM slot can take up to 128MB SIMMs. I have one in mine at 132MB is overkill (I got it from an old Sun server). I use the excess as a RAM disk which is anyway no longer so much of a speed benefit since the SCSI2SD et al. became available. If you can get your hands on a 32MB SIMM, it will be more than enough, unless you plan to edit video or work with massive PhotoShop files (either of which is a test of your patience).
4. With a single change, the bus speed can be increased from 25Mhz to 33 or 40Mhz.
More info here:
http://www.applefool.com/clockchipping/q605.html.
The LC part of the processor means 'Low Cost' and it means that the FPU is missing. How much of a difference it makes, I'm not so sure. If you got your LC 475 to crack open Excel 2.0, then yes, the FPU is what you want for complex mathematical computations. But for Civilization? I'm not so sure.
In short, if a 33MHz 68LC040 becomes available at a good price, get it. The speed increase (once your busspeed is increased) is noticeable and recommended.
5. As mentioned above, you need 2 VRAM SIMMs. I, personally, recommend that you splash out on 2x 512K SIMMs. They have become pricey of late but they will allow you to drive a monitor at 1024x768 at at least 256 colours, which is nice. You can also get millions of colours at lower resolutions.
6. As you mentioned above, a solid state HD is very much worth while. It reduced the PSU consumption, reduces the heat generated inside your Mac, is much, much quieter (although you may like the whirr of the HD) and is much, much faster.
7. The PDS slot can hold one card unless you find a piggyback card. I always recommend an ethernet card so that i can connect the Mac to my mac mini G4 which acts as my file server and gateway to the Internet. It is the easiest way to get files & software on and off your LC 475. That being said, there are many Apple II fans out there and the Apple IIe PDS card with Y-connector is also much loved. There are also sound cards, graphics cards and CPU accelerators available in theory but patience and deep pockets are required for them.
If you don't have a Mac Mini G4 running Mac OS 9.2.2 (or something similar), a few external SCSI devices are also worth getting so that you can move software on and off your LC 475. A SCSI CD-ROM is a useful device to have. Portable media are useful if you have one for a modern machine and a SCSI one for your LC 475, but these media are getting harder to read and write to on modern machines. Examples are Zip-disks, Jaz-disks and MO (magneto optical) disks.