This is my favorite FM build. If I had to have only one powerful light, it would be this one. The reasons are ergonomics, portability, extreme brightness, reliability and moderate cost.
Ergonomics and portability. The problem with most powerful lights is that they are too big and heavy. This light is about a 2 1/2 D, which is fairly big, but not prohibitive. The ergonomics of Mags are quite good and not having a tail switch is a major positive feature. Also, on these particular lights, the knurling is excellent--very grippy without being too sharp.
Brightness. Using the Hikari bulb you get about 3800 lumens. Not the brightest bulb in the drawer, but it beats the hell out of my Surefire E2E. This is a great bulb AND it costs between 90 cents and $2.00, depending on where you buy it. You can also set this light up with one of the s/p battery holders, producing approx 8 volts. With that setup you can power either an ROP lo or high. If you use the high, you get about an hour runtime. Finally, since its a Mag, you can use a 3 in head on it if you choose. Throw is pretty impressive.
Reliability and Cost. The light costs $170, less than a fancy Surefire, except that the FM light has two to five times the power. For another $40, you can reconfigure the light for different bulbs. If you want to spend more money, you can buy one of the two larger heads. As for reliability, I have found all of the FM Mags to be at least as reliable as the oem.
An added feature on this particular light is that the finning on the heads is particularly nice and the finish is a very durable chrome.