Not only the Vf will be lowering, but we will see the improvement in the maximum current capability. The P4 Cree must to dissipate 3 watts of heat at 1000 mA and 3.55V. This is the slight barrier to pushing it further, considering its best lifespan.
R4 bin with lower Vf and much higher efficiency will dissipate 3 watts at 1200 mA, having only 3.3 Vf.
But the most incredible will be the brightness gain.
P4 at 1000 mA had 186 lm
R4 at 1200 mA will have impressive 335 lm
Near two times brighter!
Still dissipating 3W of heat...
R4 at 1000 mA will dissipate not 3W, but 2.4W of heat.
And it will have round 300 lm
Lossing 80% energy that P4 lossed...
R4 at 520 mA will have the same light output as P4 at 1000mA
This is the half power!
This is double runtime...
Future really looks bright
Future looks cool
Future looks long-running
Damian