Hi guys, I've got one, for two weeks now.
It has a Q4 CREE LED. It's got a blue/purple tint, but not too much, you can adapt to it.
It's rated at 220 lumens on max, and 1.5 to 2 hour battery time, and 100 lumens on low, with 6 hours battery life. On my tests, I got about 2:20 hours with 2500mAh NiMHs on high, and then it switched to low mode for another hour.
The body warms up pretty good, which is a good indication of heatsinking.
The finish is not type III anodizing, and can be scratched rather easily, but for the price it costs, you can't expect more. The threads could be better...
I had to change the o'ring, 'cause the original one was floppy. I put a tighter one and it's good now.
The lanyard and holster included is very low quality stuff.
The clip is good, and can be removed without scratching the body, but the finish on the clip comes out easily.
You can also remove the lanyard ring, which I did, and replaced it with a 2mm o'ring. Looks nice.
The reflector is good, deep, with orange peel texture and reflects nicely. It throws a good amount of light, and yet spills another good amount, it's a very good light. It can easily light up an area up to 30 yards in complete darkness.
The switch doesn't feel as rugged as a Fenix, but it does the job. It has a reverse click, so it's not tactical. You have to click it for the flashlight to turn on. Then a light tap on the switch changes to low mode. It always turns on in high mode.
The low mode has a bit less than the rated 100 lumens, it's around 70 or 80.
The LED is slightly off center, but my Fenix lights have this "problem" too, so...
Overall it's a bright light and for the price, I recommend. It's much brighter than the famous Fenix L2D Q5.
Bottomline is if you can find it for around US$35, buy it. It's much more reliable than those dealextreme.com flashlights. And it can be an all around light to have in your car, backpack, backup light, emergencies and around the house. It's cheaper than other lights with same or inferior performance, so you might not bother abusing and scratching it, just use it as a tool, not a collector's precious light.
Here's a beamshot pic, and others for comparison:
Any questions and doubts, feel free to ask.