THe Inova X2 has only a single output. My most recent purchase was the Fenix E21, with 2 levels.
It was $35 delivered. That's the same, or even less than the Inova X2. I bought my Fenix E21 from E-bay, and had it in 4 days.
Using a light at over 100 lumens for anything close up really isn't very pleasant.
The lower output level of the E21 Fenix also give you significantly longer run time.
I consider $35 to be pretty much a 'value price' for a flashlight, but for the money, the Fenix certainly seems like a VERY good value to me.
The Fenix is also, I believe, easier to use one handed, since it has a push button tail switch, while the Innova uses a tail twist switch, which isn't as easy to use with one hand.
The tail switch on the Fenix locks out with about 1/4 turn, but the tail section is big enough to easily turn with your right hand, if necessary: I just tried it. Perhaps the Inova X2 is as easy to turn on...but you won't be able to turn it on and off as quickly and easily with one hand, as you can with a tail clicky switch.
Same with switching levels: rotating the head with one hand isn't too hard at all.
I don't have the Inova X2 to try out in person, so I can't make a really good comparison, but I DO like the way the Fenix E21 operates, FWIW. And the price is very good, for what it does.
Specs:
Fenix E21:
Specifications
* CREE XP-E R2 LED
* Two modes of output:
o High: 150 lumens, 2 hours 15 minutes
o Low: 48 lumens, 11 hours
* Dimensions:
o Length: 164mm
o Diameter: 25.4mm
Specifications: Inova E2:
Dimensions (Length x Diameter):
5.84" (14.83 cm) x .861" (2.19 cm)
1.1" (2.80 cm) head diameter
Output: 107 lumens
Run Time (up to): 3H 40 Mins
Looking at the specs, the Fenix has more output by almost 50%, plus the significantly lower level, with a long run time.
The Fenix really seems like the winner, in features and specs, in my book.