The heat impact on light output is much less than with a Luxeon V, as deplicted in this drawing:
As you can see where I overlayed the OStar curve on the Luxeon V chart, at 100C the Luxeon has dropped 25% brightness and the OStar is down only about 10%.
I've not found any numbers for life span yet for the OStar, but I'm betting it is going to be better than the 500 hour life stated for the Luxeon V Portable.
If you're interested, the data sheet for the OStar can be found
HERE
Tonight I'll try and get some pics of a shoot off between the OStar Mag, my 2D Luxeon V X4T Mag (1.4Amp overdrive) and my 2D 10W HID Solarc Maglite. I'm not sure if the camera will show much difference, but it's worth a try.