I have the Opalec Newbeam and the InReTECH 2aa Luxeon Star drop in replacement.
They are both favorites of mine. The InReTECH is MUCH brighter, and with a "denser" light than the Opalec Newbeam. (edit)
The Opalec is nice because from minute 1 until whenever the red LED light comes on, you have the exact same amount of brightness.
However, the InReTECH starts off much brighter than the Opalec, and it takes a long time (I don't know the exact number, but maybe 20-30 hours) until it would reach the brightness of the olapec.
Again, they are both nice lights. I would say that, while not as bright, the Opalec would be more consistent with the "color" of the light, giving off a white/blue light, whereas my sample of the InReTECH 2AA is more of a natural or sunlight color light. The Luxeon Star seems to have varied color output, and has nothing to do with the flashlight producer.
The Opalec gets to eat all of my used batteries, and it sucks the last bit of energy out of them, but I get the same amount of light, until that red led comes on. The Opalec is my favorite "stumbling around in the dark in the house in the middle of the night" light, but recently I have been using the CMG Ultra.
I like a "less bright" light in these instances.
If you want less bright, very constant light, go with the Opalec.
If you want a good combination of brightness and runtime, go with the InReTECH.
If you want Ultrabright, for a short time, go with a dat2zip or Mr. Bulk mod.
Please don't read into my statements that one is better than the other. They are both good drop in replacements for the mini-mag bulb.