Yes, I got it yesterday
I couldn't test it immediatly as the batteries I took with are too big (some protected 16340 that are 3-4mm longer than expected, should be called 16380 :thumbsdow).
I tried in the evening with some old AW's protected 16340, still 0.5mm too long but I could close partially the tailcap.
The light has two levels of brightness. Not obvious to distinguish them, I would subjectively say about 10-15% difference. Sequence is low-off-high-off and it's done on the tailcap, not by the circuit.
On low the throw is similar to the Streamlight 4xAA PP Lux and the CPF's VB16 (I have the 3W version). On high the MTE beats them easily (the difference is much more visible outdoor than indoor). The MTE has also a great spill, the 4xAA PP Lux looks anemic in comparison.
I mesured the current. About 0.72A with two 16340 (7.2V), 0.11A with only one (3.7V). As a comparison, my CPF's VB16 takes 0.7A from one 18650 (3.7V) and 0.5A from two 16340 (7.2V).
18650 don't fit in the MTE. Maybe 17670 don't either, but it would be useless, unless you want long runtime and about 1x AAA light brightness (say, similar to Fenix L0P).
I doubt it's regulated, or maybe it needs an input voltage >4.5V to be regulated. In any case not a good buck circuit IMO.
Other things noted.
It's well constructed, reflector and window look clean, but they're plastic. Head is not sealed.
Body is too short IMO has the tailcap can't be closed completely with 16340 slightly out of spec.
I'll try to post some beamshots next week (I'm off this WE).