Considering many of these companies, like Fenix, don't have the means to take an accurate out the front lumens measurement, I'd rather they quote emitter lumens based on the LED they are using at the current they are driving it at. As long as you understand it is emitter lumens, based on the size of the reflector, type of reflector, etc, I know what to expect to see coming out of the flashlight.
With Surefire, if they say "100 lumens" I don't know what to expect. People say it maybe brighter than 100 lumens? If they actually told me what LED they are using, what bin, what drive current, and what the emitter lumens are supposed to be, then I'd have a better idea of what to expect.
So who's better? Surefire who gives us their lumen rating, not knowing how they come up with it, or a company telling us what LED they are using (Fenix P3D *Q5) and telling us the emitter lumens, which lets us figure out what kind of current they are sending to the LED.
If all these smaller companies, like Fenix, tried taking their own out the front lumen readings they may vary from company to company based on their set up, the accuracy or setting of their integrating sphere, etc. So we would probably end up with less accurate and more confusing stats. I think for LED lights it's best to list as many details about the LED as possible, such as Cree Q5, Rebel100, etc, and list the emitter lumens. They should specify that the lumens are emitter lumens though.
Also keep in mind LED's already have a built in lens, so the emitter lumens are the lumens coming out the front of the LED's lens. So LED's have less loss than an incan bulb because the lumens are more focused and are less dependant on the reflector. Incan bulbs send out light in all directions and will have more loss from the reflector.
Also, from flashlightreviews:
"
Remember, this is ONLY AN ESTIMATE and should not be used for advertising, marketing, or definitive comparisons. The Lightbox could be in error, or the calculation could be in error."
So trying to determine lumens from their converstions may not be very accurate.
BTW, when I buy light bulbs, for my home lighting, they quote lumens. This is bulb lumens. Once I put the bulb in my lamp, the shade is going to cause a lot of lumen loss. So should light bulb companies quote "out of the lampshade lumens"?