The OP wanted a replacement for a L0P.
The current version is the LD01
-----
HIJACK
I do not believe the different version was to remove bugs, but to introduce never leds.
The problem with getting the best bin, is that it is a moving target, new better bins are introduced each year.
While the move from L0P to L0P SE to L0D to L0D CE was for other reasons it gave me time to determine the the light was what I wanted. If there had been bugs it would have given Fenix time to fix it. (actually they did fix the wrong size O-ring problem in my L0P SE, none of my 4 L0D CE had that problem)
I bought an original L-mini. It is now a lump of useless metal. Shining beam sold v2 so fast I didn't have time to pull the trigger.
I bought an early MTE P7 last year. I have to live with its idiosyncrasies which vary from unit to unit same model. Have not heard any complaints this year.
I bought those torches because they were interesting concepts at the time.
It is not a good idea to advice other people to buy version 1.0 of an unknown item.
While 7777's concept for the Preon is good: Latest most efficient XPG LED to max battery life of the tiny AAA; 2AAA is still pocketable yet gives 2X the voltage to the driver.
We do not know who did the detailed engineering design or who builds it or what the QA is like. (7777 claims it is not Fenix)
7777 has seen how being the 1st has helped Fenix - 1st with the 1AA power LED, 1st with the XRE. 7777 has also seen how NOT being the 1st with the P7/MCE left Fenix fighting for market share with Jetbeam, Olight, Elektrolumens, not to mention the slew of MTE, Aurora, Trustfire, Solarforce etc. that had been out for over a year.
7777 is now trying to be 1st with the XPG, 1st with the Quarks, now with the Preon. With the Quarks it is mainly an LED upgrade but the Preons are new.
And the release seems rushed.
To meet the shipping deadline production would have started just as the XPG is rolled out or even a little earlier. Does that leave the optics designer time to properly optimize the reflector for the XPG? (Remember the 'Cree rings' of the early XRE lights without OP reflectors)
7777 has also persuaded Fenix not to go overboard with the blinky modes. Yet the Preon has more blinky than steady modes. Looks like an existing board is pressed into service to get the light out on time.
For this one I'll wait for other early adopters to report in before I jump, let alone recommend.
/HIJACK