here's a rough comparison of the the EosII (3xAAA), the ArgoHP C4 (2xCR123A), and the Argo C4 (3xAAA).
IMO, the easiest one to hike w/would be the EosII on *HI*. it is a wall of light. very broad and reasonably bright spill - all very useful for picking up anything in its field of illumination out past 60' or so (which is how far i was testing it).
on LO, i would NOT be able to use the EosII for hiking due to my personal requirement of 30' of decent (fairly bright) illumination.
the remaining question is the EosII burntime on HI. if it's too short, then, IMO, PT should have kept a MED setting. the original Eos was usable by me on MED for trekking a trail after dark. however, the small/tight spot and poor spill was its main downside for me.
the ArgoHP C4 was plenty bright on HI w/a brighter, more defined spot producing better throw than in the EosII. however, its broad spillbeam was noticeably dimmer than the EosII spillbeam. on HI it was still usable, IMO. on LO, the bright spot would allow picking out faded, lo contrast blazes on trees and rocks at 50-60 feet, but the spillbeam becomes too dim to be useful for anything the is not up close and personal. if one doesn't mind a bit of "tunnel vision", so to speak, then hiking on LO might be possible.
the Argo C4 was even a bit better than the ArgoHP C4 (a quantum leap forward as cp. to the pre-C4 Argo). on HI its spot was larger then the HP's and just as bright and its spillbeam, while noticeably dimmer (just like the HP's) was very broad and quite useful. on MED it was noticeably dimmer than HI, but much better than the EosII LO and ArgoHP C4 LO. on MED, the Argo C4's spot was still plenty bright to hike by and though the broad spillbeam dimmed noticeably, it was useful enough to prevent the darkness from closing in all around and causing "tunnel vision". on MED, i would still be able pick out blazes at 60' (twice my personal minimum requirement for nighttime trekking). on LO it was like the HP C4 on LO and so i wouldn't feel comfortable hiking unfamiliar trails on LO.
here are the Mfr. claimed specs for the ArgoHP C4 and the Argo C4:
ArgoHP C4:
HI (100%) = 55lm --> 52lm @6h; 6h reg. o.p. + 3h unreg. o.p.
LO (33%) = 18lm for 30h
Argo C4:
HI (100%) = 56lm for 7h
MED (45%) = 25lm for 11h
LO (20%) = 11lm for 20h
the EosII is supposed to be 50lm on HI.