Welcome to LOTRO, and great to see another player wanting to be a Lore-master.
Just in case: LOTRO-Wiki article about the
Lore-master. Don't forget to check out the See Also section of the page.
LM pets each have different abilities, uses, and purpose. The Saber tooth, is a frontal AOE against 3 opponents. With a couple of special attacks. It is really a DPS pet and not meant to be a tank. All pets require healing from time to time, and the DPS pets most frequently of all.
If you are going to run Blue, I strongly recommend the bear, it is the one pet meant to be a tank. It does not hold agro like it did years ago, but it does a good enough job, when you wait for it to build agro before you nuke the target(s).
My main is a 140 LM (first character, born June 2010) and I ran blue up to and through Minas Morgul, Since then I run Red exclusively, unless I am in a group (Red or Yellow) or raiding (Yellow) with the kin. When soloing, I run Red with my bear. When yellow, I sometimes pet dance, or keep the bear for self-protection or to pull mobs off the healer.
Playing a LM is challenging, you must learn the abilities of the many and various mobs, you must plan each encounter, managing your resources and rely on your pet. Additionally, remember for a squishy, running is a viable tactic when solo. When in a group or raid, you run TO the tank if you have mob(s) on you.
As for your power pool, 7K is ok, but continue to build till you are around 8K. What you want to get as high as you can at all times is ICPR. A ICPR of 20K is ok, but higher is better. The goal is to regenerate your entire power pool in 15 seconds, effectively giving you unlimited power.
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