I've heard that the current 300M is a huge improvement in quality over the first, and second-gen versions. All I can say is, I hope so!
I bought a 2nd generation version years ago. The output was no where near what they claim. Ironically, 300M is a very approriate name. That's about the actual lumen output that you're getting from it, 300 lumens. Pure flood. Output still quite good. But Q.C. left a lot to be desired. The unit would frequently pop out just a bit if even slightly bumped. Pop out to the point that it wouldn't work. Getting it screwed back down was a chore because your fingers have no space to properly grip the drop-in in order to screw it back down.
I still have my 4D
M@glite with the 300M in it. I never use it. If there's ever a blackout, I'll grab it. But I'll be sure to grab a couple of extra lights as well, for back-up in case my 4D gets bumped.
You want quality? You'll have a very hard time doing better than a Malkoff drop-in.