For me it seems to be the almost perfect neck light. Great runtime, low first UI, AAA battery, and most importantly a nice, beefy split ring attachment point. The only down side is that 4seven's didn't come out with a Ti version, but I guess I'll have to settle for the stainless steel version.
The biggest thing that stopped me from getting a Ti Preon was the split ring attachment point which didn't seem that strong.
Price is a bit high considering the ReVOs competition, but oh well. Since I plan on keeping this light for a long time I'm willing to pay the slightly higher price if I can get what I want.