I have a 3 mode XML drop in, and I am moderately impressed, however I like the Malkoff m61 much better. The spot is better on the m61. In all fairness, I have not used the xml much outside of the house, as the mode switching aggravates me. It seems like I have to wait forever between button pushes in order to keep the same setting. To clarify, if I turn the light off and then back on quickly, it will switch modes, making me cycle all the way back through med and low to get to high again. I have a surefire E1e with lumens factory 3 mode head, and the switching on that is much better. Of course, I only want high brightness when i turn the light on, so if you use med and low a lot, it may be a good feature for you.
UPDATE: The long term quality kinds stinks. I managed to break the solder points on this drop in while taking it out of a bezel. I can generally get it to work without issue after playing with it for a few, but it's not what I had hoped for.