You're pretty much spot on; WPA2 is still considered pretty secure, but if you've got it tied to an authentication scheme that's extremely vulnerable like LEAP, then you're losing a lot of the security that WPA2 gets you.
To be clear, the risks of using WPA2 with a weak authentication scheme are different from the risks of, say, using WEP. Data in transit over the network between the access point and a client once a session is established isn't at risk as it would be with WEP. But what is at risk is the authentication session - users' passwords are exposed via a weak hash during this process, and an attacker can even de-authenticate already associated users to force them to resend the vulnerable LEAP negotiation.
In essence: move off of LEAP if at all possible.