Here's my opinion on the L2. If you're looking for a general utility light, you really can't go wrong with the L2. It's got a great flood of low light for walking around, and when you need to penetrate the darkness a little more, you can kick it into high mode for a stunning wall of light. But I'll echo what I've read from a lot of other L2 owners -- this light is primarily a low output light with a "turbo" mode, as the L2 only keeps up its high output for 30-50 minutes but can run for 10 hours on low.
If you're looking for a high output light you are better off with the Surefire L4, which will run for about an hour and 20 minutes before dimming down.