Like the first book, I'd seen (and enjoyed) the miniseries years before reading it (although the first series is a classic of sumptuous camp and the second saw a new actress playing Judy, Lili mysteriously losing that atrocious accent, and a overly contrived storyline - is one really to believe that these rich and powerful women and all their friends are unable to come up with one million in ransom money?), and I had a somewhat difficult time blocking out the events of the first teleplay and remembering the MAJOR differences between it and the novel.
I recall reading Lace after having fallen in love with the saga of Lili's powerplay against Judy, Maxine, and Pagan (the television version of Judy is more of an amalgamation of both Kate and Judy in the book, Verve! magazine is replaced by Lace magazine, and Lili is far more ruthless and conniving in her quest than the sympathetic Lili of the novel) that stands on its own as one of the greatest television events of all time. The problem is that the writers of the miniseries made so many significant changes to the story that the two stories that a reader may find it difficult to separate what happened in the novel from what happened in the television version. One could say that it would be better to read the books before watching the television versions, but I think that would prevent some fans from falling in love with the cult classics. Instead, one may want to read both books back-to-back to get the entirety of the story down and watch both television versions back-to-back for the same reason.
Even in the twenty-first century, one can infer that the novels were considered major examples of progressive, salacious entertainment filled with powerful female characters that the world had never really known previously. At the heart of the stories is the depiction of a true, lifelong friendship exemplified by the everlasting bonds between a headstrong British tomboy (Pagan, the most creative, memorable, politically minded, and identifiable [my favorite character of the books] of the five main characters), a self-conscious and kind-hearted French girl (Maxine doesn't start off as a beauty in the books), a talented American journalist (Kate, who is more often mentioned by her friends in conversation than actually interacting in the major events of the story), a self-made bitch from West Virginia who needlessly holds onto more secrets than any of the other women (Judy Jordan - not Judy Hale from Hayes, Kansas as in the miniseries), and Lili, an international media sensation whose characterization would likely be unbelievable in today's society.
Shirley Conran wrote about women - the way women think, the ideas they have, and the differences between the sexes - in a way that women had really never really been detailed before. Her subjects ranged from topical and realistic (the treatment of women in Muslim countries and the continued practice of mutilation through female circumcision and women's rights - especially reproductive rights, a major theme through both novels) to seedy and taboo (orgasms, incest, and lifelong secrets).
Lace 2 starts off strong, but fizzles in the very end. I found myself wanting much more information than Conran provided her readers. In the end, I felt as if Lace 2 was in a hurry to reach its conclusion despite the fact that it had been very well constructed in the first two hundred pages. I didn't care as much about the identity of Lili's father (which felt as if it were written as more of an afterthought than a major plot point) as I did about Maxine's feelings of inadequacy as an aging women in a society and marriage obsessed with youth and beauty, Pagan's grief over the sudden death of her long-time husband and best friend, the fate of Verve! magazine in the midst of a political scandal, and why the hell Kate was never involved in any of the action of the novel.
Read the books back-to-back. Enjoy them, but be sure that you check out the 1984 five-hour miniseries with one of the most famous quotes in television history ("Which one of you bitches is my mother?"). It is, by far, a totally different story and clearly superior to its subsequent sequel (which couldn't possibly do the novel justice due to the major changes already written for the television version).