Yes to both.
I have both the T20-M and a P3D Q5. Both are great lights, and I can't decide which I like better.
The P3D has the advantage that it can switch modes faster, as well as one handed. It always comes on in low (in L-M-H-SOS mode), which is useful in most cases, as it's generally enough light for ~80% of what you (or at least I) may want an EDC for. A couple of light presses on the switch changes modes, but sometimes you 'miss' and have to cycle around again to get the mode you want. This is especially true if you're using the light in a cigar hold and trying to manipulate the switch by pressing it into your palm, but since you'll be in Max/Turbo mode (w/ the head turned all the way down) in a tactical situation, this may not be a critical issue, since you're only switching between the 2 modes.
On the other hand, the T20 has the memory of staying in ANY mode you want for when it's turned on (incl. momentary on), but is more difficult to switch modes because of the twist (especially one-handed, like if you have a gun in your other hand). The beam on the T20 seems a little more focused than the P3D, which I kinda prefer, but it's not that big a thing, just a personal preference, and the tube has a ring for a cigar hold, which may be more desirable in a tactical situation The switch on the T20 is a little more prominent than the P3D, making momentary activation by pressing the switch into the palm of your hand in a cigar hold easier. The one thing I'm not sure I like on the T20 is the momentary on. I think a momentary off (reverse clickie?) would be better, so if you are using it with a gun, once you've lit your target you won't have to worry about maintaining pressure on the switch (or clicking it) to keep the light on while firing. The T20 w/ the clip attached is also less apt to roll, if that's a consideration for you.
More info than you probably wanted, but I've been meaning to post my comparison of these two lights and figured this was as good a place as any. A reverse clickie in the T20 would make it just about the perfect tactical light, but you need to remember to leave it in 'high' or 'strobe' if you expect to use it in as a 'surprise' in a tactical situation. OTOH, the P3D is a little shorter and narrower (w/o the clip and grip ring), and may be a good tac light with the tactical body from the Fenix-Store.com (for an extra $50), but there'll still be some considerations with the ergonomics and switch if you're using a cigar hold, so it's more suited to a 'general' EDC light than a 'tactical'-oriented EDC.
After carrying each for a few weeks, I think I'm going to stick with the T20 as my primary carry, with maybe a P2D and/or L0D backup and the P3D as a bedside / emergency kit light (especially since you can use the red & white diffusers with the P3D to create a signal light or candle).