PT Quad in my opinion. It's regulated, has no PWM like Petzl lights, has low battery warnings, will work with alkalines, NiMH, and lithium batteries without a drop in brightness, and is really waterproof/resistant. One thing I'll say about the Petzl Tikka Plus is that it is built to last. The PT Quad is made of brittle plastic that develops cracks over time. That needs to be fixed. Both lights are due for an upgrade to Nichia GS l.e.d.s which would make them twice as bright or give them double the runtime. This is probably the reason many CFP'ers have switched to Zebralights.