Just received mine in the mail:
http://www.dealextreme.com/details.dx/sku.12809
(DX is doing themselves a huge dis-service. As the 5 mode, AK-P7 doesn't come up under any keyword searches)
This is without exaggeration, (well a little, since I've only used it for 3 minutes, so far) the best Chinese made light that I have to date & I have a lot of the aforementioned lights.
The threads are smooth, no grit.
2X o-rings, at the rear.
It has a solid weight, heavy.
18650 Rechargeables slip into the tube nicely. The rear, negative contact is a spring loaded piston. The front, positive is a goldish/brass spring. I can't imagine a current 18650 that will have an issue.
Does tail-stand
The finish is even throughout. I could wish for some texture by the rear; for a better "Cigar Grip". To compensate, I slapped on a #15 o-ring; which really helps.
Next mode memory. It will start in the next mode. med-low-high-disco-strobe (AKA S.O.S.). There is about 3 seconds of off, between SOS'.
Reverse clicky. With a slightly stiff, tactile click. Once on, only requires a light partial tap to advance modes. I could've sworn that when I first started playing with it, there was no memory retention; always returned to medium. I don't know if as the battery got a little weaker, the next mode memory may have kicked in.
The beam:
:twothumbs
While my UltraFire Conqueror (smooth reflector) M-C1, 5-mode has a more intense hotspot, the AK-P7's hotspot is roughly 2.5 times the size, with a more usable spill. I would be curious see how this unit would perform with a smooth reflector.
The tint is just a bit on the warm side. Which for me, is a big positive.
I was really fearful that the huge head would have created another champion thrower. But this light is just the right mix of intensity & general functionality. :twothumbs
Edit to Add:
The Next Mode Memory is time based. After you turn the unit off, anywhere inside of the 1st (+/-)90 seconds will get you the next mode. If left off for a few minutes, the unit will return to medium. When I get a chance, I'll put a stop watch against it, to get the precise threshold.