I finally received this light the other day.
I've only used it once so far. The low beam setting is as bright as the high setting of my SL Septor.
It uses a one-watt side emitter and the reflector is textured on the lower half. The beam pattern is better than the Argo I had. There is not a whole lot of floodlight, which is what I want in a LED headlight. I like the light to be bright where my hands are, not wasted two feet away from where I am working.
Hopefully the run times will be as advertised. I don't get 123's free at work like I do 'normal' size batteries. I'll probably stick with the low setting to save on battery cost. It's plenty bright enough for working at night.
I supposedly have a new, redesigned Argo on the way from SL, too. We'll see which one makes the cut as my work light.