To those that suggest that it may be a battery issue, I tried several different sets of Battery Junction cr123s and the EagleTac 18650s that I ordered with the light, so I don't think that is the problem. From what I can tell there is not really room between the high and the strobe setting for there to be a turbo mode between them, if that makes sense. As I turn the ring it does nothing for about 3/4" then low kicks in and then 1/2" for medium and the about the same for high and then, if I turn really slowly, I get this low output strobe and then high strobe. I can't say for sure I'm not seeing turbo at the highest output, but I don't believe so as it's not really much brighter than a 2 cr123 r2 I have for comparison and in any case I am definitely missing a setting in there somewhere, because I only have 4 total, unless you count the low strobe, and there should be 5.
I have to say that I really like the light and don't want to slam Eagletac by posting about this stuff. I was just hoping to get some feedback on what might be the cause and maybe a fix I could perform without shipping it off. I hate to be without my newest toy for an extended period. Priority mail took 8 days to get the thing here from WA in the first place and now I'm going to have to ship it back out there. Bummer. Good thing is that Mike from PTS said they would pay the shipping if it was found to be defective and not user error. Thanks to all that have posted.