Lasers in which spin-polarized carriers are injected provide paths to different practical room temperature spintronic devices, not limited to magnetoresistive effects. Unlike the conventional understanding of spintronic devices, an optimal performance of such spin-lasers can arise for finite, not infinite, spin relaxation time. By considering spin-relaxation times of both electrons and holes, we elucidate advantages of spin-lasers over their conventional (spin-unpolarized) counterparts. In addition to the steady-state threshold reduction, spin-lasers can improve transient operation leading to shorter turn-on delay times, reduced ringing of emitted light, and an enhanced bandwidth.