I had quite a few of these lights and just sold three on MP, but I'm definitely keeping a few. My motivation was simple, someday when Streamlight offers a new emitter, I don't want to be holding a half dozen of the Luxeon 1.
Having said that, the Lux 1 along with a great reflector really works. I don't care that the light is rated at 40 lumens. I've got other lights rated more than double the lumens, but can't out throw the Propoly. Besides the noteworthy throw, I love the clickie switch on this light. I can't think of a switch on any other light that feels better.
The proliferation of lights featuring Cree lamps is nothing short of amazing. Of course, you have to be able to feel good about sending more of your money to China. Streamlight, Inova, and Pelican initially attracted me with their USA made products. I'm sorry to see some of their newer models coming from oversees. I hope they stay domestic when they do upgrade.