The L2 should run longer at 15 lumens, both because it has two batteries and also because the LEDs are more efficient at low power, and it will require less total power to get 15 lumens from four dies (as in the Luxeon V) than from a single die (as in the Luxeon I). However, this difference may not be significant, and the heat from packing the the four dies near each other may cancel out some of this effect.