Diamond,
The Badboy is a current regulator and puts out a more even amount of lumens when the batteries discharge. The Madmax is a voltage regulator and the output is not as percise. The good thing about the Madmax is it will run the batteries down to .8V (.4 volts per cell) the Badboy is only good for 1.6 volts (.8 volts per cell) The Madmax+ is also initially brighter as it puts out around 800mA to the Luxeon.
The N, P, Q and R are ranks of the amount of photons the LED puts out at the stock 350mA drive current. The higher the letter, the more light you receive with the same power input. The Q rank puts out around 31-39 lumens while the N rank musters 18-23 lumens.
A CY LED stands for Cyan LED. Cyan is blue/green in color and is very bright, brighter than white LEDs. Wide open applies to the Madmax+ voltage regulators, it means that the adjustability of the regulator is run for maximum output. Unfortunately, it can't be adjusted down...those with adjustability will be on the next batch.
The #1 reason people fry their modules is by messing with them (I blew up a BB500 myself) Put the module in a Brinkmann Legend 2AA and enjoy the light, the Brinkmann Legend has more aluminum mass to keep the module cooler than a minim*g. Keep the module cool, keep it dry and don't screw around with it...it will live a happy life and make your life easier.
The BB500 puts out 500mA and the BB400 puts out 400mA, depends on what you want for battery life and how far you want to go with brightness. The Madmax can also run on one AA cell if that floats your boat.
My first Luxeon was the BB500 and when my BB500 R2H comes in...it will be like going home again. /ubbthreads/images/graemlins/thumbsup.gif