There were three responses to the original query. The third response was from a PTC employee who is very familiar with both RSD and RSD Lite. Thanks to those who took the time to reply.
I have a boatload of the "freebie" RSD Lite licenses (more than fifty) but they aren't very useful since they are unable to view the designs created with full-blown RSD (which is being used by some of our EEs). My organization only needs to view those diagrams/schematics, there's no authoring or editing involved in our arena.
I also looked into whether or not the RSD designs could be accessed with the standard/thick ProductView client via an autonomous process (e.g. an Object Adapter). No luck there either. ProductView cannot open native *.rsd packages and there appears to be no Object Adapter for converting those types of files to something that ProductView can digest such as HPGL, CGM, PLT, etc. The *.rsd packages that have been generated to date are managed within Pro/I 3.3 so it would have been ideal if a Pro/I Gateway Object Adapter existed that could convert them and archive the output in a DIVISION Graphics Server (or EDR).
RSD can export alternate formats such as DXF or print to PDF (since we have Adobe Acrobat Professional) but one of the objectives was to eliminate the need for personnel in other organizations to do that exporting on our behalf (for collaboration purposes we'd like to see in-process designs in addition to those which are released without having to rely on others).
The only recourse seems to be the purchase of full-blown RSD (PTC P/N: RSP-3097-F) which has a MSRP of $4,995.00 USD per seat.