I think that combined brakes (CBS) was also used on other Hondas such as the Blackbird and VFR (in certain models) The engineers might have still liked to call it LBS for some reason, and the marketing/advertising people went with combined braking system (CBS)
From memory, linked brakes at the time seemed to have a bad rap (conservative riders, same as those who say they can brake better than ABS) so combined brakes might have seemed a better label. Modern linked systems (eg GTR1400) seem more sophisticated as the link only works at certain speeds, but then if it goes wrong may cost a lot to fix.
I must say from the limited test rides I have done on the ST13, the electric screen seems to be the best thing (assuming you are comparing to the later ABS ST1100, as the brakes are much better) and not having to do the timing belt every 155,000kms is ok (not many riders in this situation!). The VFR1200 though has eyeball banging brakes that I still lust after, even the Goldwing has fantasic brakes.