For me it's close to being perfect - this was the light that made me a Fenix-flashaholic
The tint and beam quality on mine is excellent (from that point of view it's the best Fenix light I own - I have a P3DR100, P1CE regular, L2Tv2 and P1CDQ2). Compared to the others it has actually no tint - looks just bright white.
I think the brass heatsink is unique among the Fenix lights and gives a nice and solid feel, twist operation is butter smooth (after applying some battery contact grease which I always do).
The only thing that makes it only close to perfect for me, not the full 100%: if the battery voltage drops below a certain value it's off, from one second to the next. There is no grace period... I'm not sure if others have observed the same?
Definitely the perfect gift for good friends (plus a six-pack of CR123A).