EXPERT RESPONSE
No, there are no changes that are required, although best practice dictates you should allow a Linux system running in an LPAR to see only the devices that are absolutely necessary for it to access (counter to the practice of having everything visible to every LPAR that is common in the z/OS world). Extra devices defined in a LPAR will cause Linux IPL to be extremely slow -- this includes network devices, terminals, etc. -- as the Linux kernel must sense and identify every device defined to the LPAR, which can take a very long time (10 minutes or more) in a large configuration. Linux LPARs should be permitted to see only what they are allowed to use right now.
With regard to the HMC, the only change you should need to do to the HMC profiles is to ensure that the LPAR IPLs from the correct volume when activated.
That said, I'll strongly encourage you to get z/VM ASAP unless you are in one of the very few scenarios where running in LPAR makes sense (see one of my earlier responses for why and when Linux in LPAR mode is useful). The time and effort you'll spend solving the system management headaches for LPAR operations are more than enough to justify the cost of z/VM several times over.
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