I've bought 2 of the Coast LED Lenser V2 Tactical Power Chip lights, and I think they work pretty well. When I bought it a year and a half ago I was very impressed with its output, but I didn't know as much then as I do now. It was a year later that I saw my first surefire (6P with P61 I bought for my sister, WOW).
The Coast is very durable, has a good heft, and the switch seems very solid. I gave one to my grandfather for his birthday, it was slightly brighter with a much yellower tint (but not yellow, still mostly white) than the one I use at home. Mine has a very strong blue tint. Lithium batteries seem to help at least a little on the overall output.
I think its a pretty good light compared to any locally available LED's, probably slightly overpriced at around $42 at Lowes. It does not output 60 lumens, i'd guess (just my own rough estimate) around 20-30. My E1L seems to output more overall light, especially on R123s.
I have been very supprised to not see much mention of these lights on here or on the review sites, but most CPFers seems to shy away from the 3AAA lights.
Have fun with the Coast, its a good starter.
schiesz