First, just wanted to agree with the many positive reviews and opinions of the MT-III. I've been playing with mine for some time now, and am very happy to have ordered it!
One point I wanted to make I haven't seen made elsewhere: there seem to exist 3xD Maglites that CANNOT be fit with the MT-III drop in!
I found this out when I tried to install the MT-III in one of three 3xD Maglites I already had. Two I had already altered with a K2-luxeon based drop in, and I wanted to mod the last of the three. Imagine my surprise when the MT-III drop-in didn't fit!! For a moment I was in a bit of a shock, and thought there was something wrong with what I received.
But, within a few seconds, my brain started working again, and I remembered that I had in the past some trouble fitting an Opalec-based LED module into some 2xAA Maglites, and basically realized there was an older and a newer version of these. So I figured there may be older and newer versions of the 3xD Maglites as well.
So I got one of the already K2'd 3xD Maglites out and tried the MT-III with that one, but it didn't work! I was now down to my last chance.
And, I guess you know that it DID work with the last one, so I just switched the K2 for the to-date unaltered 3xD Maglite, and Bob was indeed my uncle.
Anyway, I guess there must be other people other there with some older vintage 3xD Maglites running around, so don't worry about the MT-III, it will fit fine, but on the current vintage.
For the record, the way in which the older 3xD Maglites don't fit the MT-III is that the length of the seating is too short so you'll find out that you can't put in the lens back on top of the not-fully-seated MT-III. Also, the threads won't screw all the way in. Finally, even if you manage to partially thread the bezel, you'll find that there won't be electricity flowing in to the plastic connector sent to you together with the MT-III and no light will come out in that case.