Given the unusually high standby drain I detected, I decided to retest this light. With my current DMM, I continued to get inconsistent readings up the value reported in my review initially (note that my standard practice is to go with highest value when this happens).
But when I swapped in a new set of DMM leads and carefully masked off the inner contact surfaces (so no risk of contact with the inner body well contacts), I got a much more reasonable oscillation around ~150-154uA. So I've updated the review with a ~152uA estimate, which translates into 3.75 years to drain the cell.
I'm also updating my star rating for this model to 4.5 stars as a result. The E70 Mini also showed a much better standy drain on retesting, but I am keeping that light at 4 stars since I find the lack of Moonlight mode really hampers the use of that model as a EDC.