Howdy thermal guy,
I had to send my original 120P back because the flickering was very noticeable and extremely bothersome to me. As has been mentioned, Jim Schecter was super nice to deal with, and also hand picked a light out for me to try and match the tint of my original which I liked so much.
My new one hasn't exhibited any flickering, and believe me, I've tried to make it flicker.
Now, my original light didn't flicker to start with either, but only began about a week after I got it, or maybe it took me that long to notice it, so it might be that Jim checked yours out, but it hadn't developed a problem yet.
Anyway, for a light in this price range I think you have the right to expect it to work near perfectly at all levels, especially being this close to new, so if it bothers you, I'd contact Jim and see what he has to say. Personally, I think it's worth the trouble to get it taken care of, because those kinds of issues tend to bug me.
BTW, I assume you've tried all the usual fixes, new battery, factory reset, making sure the silver retaining rings in both the tail cap and head are tight, etc.. Let us know how things turn out.