Here is a side by side comparison of the New and Old M2 Bezels:
Here's the new M2 and the E1-GM side-by-side:
I think this M2 is the best flashlight I have. The new Bezel is perfect, and it does it's job to an incredible level! Unless you're getting the E2, G2 or the Z2 (specifically for use with a gun), I'd always suggest the new M2. It is a God amoung Flashlights.