There is nothing at all wrong with using resistors to obtain lower output from the Malkoff M60. My experience with the M60 & the McC2S on 2xCR123:
30 ohms: -> ~50 lumens
60 ohms: -> ~20 lumens
120 ohms: -> ~10 lumens
But, you'll need to do the math and account for your battery voltage and resistor value, and keep in mind that using the low output can decrease your runtime.
Provided you know the specs of the regulation circuit (specifically, below what voltage it drops out of regulation) and you do the math, sure, it can be useful in a regulated light. You can turn a single-stage, regulated light into a two-stage light with a regulated high and a DD low.
I'm pretty sure that running the current through the resistor can in most cases dramatically increase runtime:
Example 1:
SF L1 Luxeon, 1xCR123: 22 lumens for ~1 hr -> 2 lumens for ~50 hrs (adding 10 ohms in series via the two-level tailcap)
SF L1 Cree, 1xCR123: 65 lumens for ~1.5 hrs -> 10 lumens for ~16 hrs (+10 ohms in series)
SF L2 Luxeon, 2xCR123: 100 lumens for ~1 hr -> 15 lumens for ~15 hrs (+10 ohms in series, dropping it from buck-regulated to DD)
Edit: buck-regulated is probably incorrect, see BB's post below.
Example 2:
While it's been
way too long since my EE-for-non-EE-Engineers class, from the following link:
http://www.doctronics.co.uk/resistor.htm
What is the power output of a resistor when the voltage across it is 6 V, and the current flowing through it is 100 mA?
P = VI = 6x100mA = 600 mW = 0.6 W
Therefore, 0.6 W of heat are generated in this resistor
Running the M60 'full bore' on 2xCR123, you are consuming ~4.5 watts. Running the M60 on a resistor which yields 100mA (sort of like the current for a theoretical M60LLL, ~40 lumens on ~100 mA), the resistor is dissipating 0.6 Watts of power. Not sure what power an M60 running at 40 lumens would dissipate at the emitter, but my guess is you're looking like something around
one watt for the total circuit. Much lower than
4.5 watts that the M60 circuit (i.e. just the LED) is consuming running 'full bore'. Therefore, runtime should be extended considerably, albeit with considerably less efficiency than a 'true' low-output Malkoff.
I understand that these numbers are very rough and that I could easily be off by perhaps a factor of 2, I am just using the example calculation from the web link and attempting to apply it to this discussion.