I have quite a few of the Stylus lights (bought before I discovered CPF and Arc) and all are still working.
Switches -- they do get erratic; I've found there can be a hard black deposit on the inside of the tube where the switch makes contact, that needs scraping off; corrosion on the copper ring on the plastic switch itself; corrosion on the spring inside the plastic part of the switch. But the switch pushes right out of the tailcap, and a little electronic parts cleaner takes care of the problem (after scraping the black crud out of the inside of the tube at the contact point.
LEDs -- can be pushed down into the tube with a pencil eraser; they're just pushed into a little plastic carrier and the leads trimmed, so easy to replace (notice the orientation).
I have some of the older 2-AAAA Streamlights. These are _great_ hosts for the SMJLED, with no resistor at all. I carry one with the cut-off LED that's like pocket moonlight for walking, makes a very broad even illumination in any unlit, truly dark area that's plenty for walking safely. And the point source is still plenty bright to catch the attention of someone driving out of a garage or toward me in a crosswalk at night.
I've learned over the years that all batteries leak eventually. At this point I only leave batteries in my daily use lights and in the household PALights for emergency darkness, and keep lots of batteries handy for my other lights.
In fact I'm sure batteries are more likely to leak in flashlights than in drawers. I dunno why. Ventilation?
