My experience is that one should not pay the life time token yet, as perhaps the Gov. has purposely introduced a confusion to gather as much amount as possible. Everyone is telling a different experience. This worst possible thing that others are discussing on this forum is that even if you have paid life time token, you will still need to pay road/income/professional tax, if this proves to be the case, there is absolutely no purpose of getting the life time token, as for me the most important thing is to get rid of the yearly hassle of going to the long queues at the post offices.
My own experience in this matter has been worst. I was in lahore for a vacation. I went to ETO, without gathering much information about this scheme. I purposely avoided going to agents. and went to the information desk at the ETO. I asked him if I was at the right place to collect the token. He calculated the amount for my car, whose token had been paid till July-2012. and asked me to give him Rs.8520 and come in two hours. I trusted him and gave him this amount. When I came back, all he gave me was a red sticker with P sign. and reg. no. of my car written with a ball point over. I objected that any recipt showing how much was actually submitted to Sarkar, but he insisted that this red sticker is the everything ; sarkar main paesae jama hotae hain to yeh sticker nikalta hae. I became worried and searched on the internet and found this thread. I got to know that I should also have recieved a payment slip, and probably a stamp on on the original file.
In short, try to avoid paying of life time token for this year and wait till next year to see what happens.