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I tried lastminute when I was in London and it worked very well - I picked "best available seats" with some trepidation as technically the worst seat in the house could be "best available" if it's the only one left, but for the three shows I saw, all in different theatres, all the seats were very good ones, always in the stalls, always pretty central and always in the front half of the stalls near the stage.
I would caution though - if for some reason you can't attend (I had to leave London early) then no matter what notice you give them, they WILL NOT refund your ticket - they won't even say they'll put them back up for sale and you can have a refund if they sell, or give you a partial refund, or anything - no refunds - no exceptions - believe me I tried! And of course they will re-sell the ticket - what's to stop them? and in effect have been paid twice for one ticket, and you'll never know.
So make sure you're 100% sure and if something comes up, kiss goodbye to the cash!
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