Sounds like you have the first version. The first version is a spotlight. The second version is probably 3-4 times brighter. The second version had some failures after people using rechargeable batteries (NiMH) in it. Version 2 also had problems with the lens falling out as it was only glued in. After awhile, the weak tailcap threads would fail so the tailcap would no longer stay on. Version 3 (the newest version) solved the tailcap thread problem and the lens problem. It has better HAIII anodizing vs. type II for the last versions. Rechargeable batteries sometimes cause the light to flicker. The third version is nearly twice as bright as the second version but only lasts 2 hours vs. the second version's 10 hours. It uses a very inefficient l.e.d. that has a claimed lifetime of only 2,000 hours.
I suggest you avoid the X1 as it still needs to be improved. If you want a similar light, try a Gerber Infinity Ultra ($15 on sale at REI until May 10th) or a (1AAA) Fenix EO1 ($12.50 online). If you go to Target, there are a couple 1AA lights that will give you 80 lumens with a better l.e.d. and your 2 hour runtime for under the $20 an Inova X1 will cost you. The newest X1 only puts out 15 or 20 lumens.