Ok....luxlover did a very nice initial review. Here are some additional points.
1. This is essetially a 6-stage L5 (AND THAT IS WHY I BOUGHT IT!!).
2. High position (6) is so similar to the L5 that I haven't been able to detect much difference. I refer to "luxlover's" more in-depth study at this point as I have yet to test this light at distance, outside, under full-dark conditions. (Later, I did a short-range, in-house test on one U2 and it was definitely brighter on high than the L5).
3. Low position (or Position "1") has about the same output as a "Photon" and is a little brighter than one might expect. MUCH better than the old L1 on "low". Position "3" is about the equivalent of an old KL1. By Position "4", it is beginning to equal the L4 in throw. Position "5" is outthrowing the L2 on "High" and approaching the L5 in output. (Of course, the U2 could not compare to the "wall-of-light" that the L4 or L2 would throw with their flood heads - we are just talking throw here). By Position "6", The U2 was slightly outdistancing the L5, and about equal to the E2e/MN03. The big difference was the "wall-of-light" that the U2 threw at maximum range vs. the E2e pencil beam.
4. The only two holsters that I have been able to use for it so far are the SOEgear.com "A2" (and it is a very tight fit), and the Surefire V26 (and it is a perfect fit, but does not protect the head or rotation ring).
5. The Z-41-BK "tactical" twist-on/lockout tailcap will NOT work if you want to convert this to a gun light - only the Z-58/Z-59/Z-59 HAIII BK. You will have to get into specifically made weapon-light parts that McGizmo commented upon a while back if you want to use this light for tactical purposes. I later tried the Z-48/Z-49 shrouded, tactical tailcaps, and they work, giving you a candle-mode, click-on option, but I don't like the resultant increased length or weight. I don't know about the SW-02 tailcap.
6. I pre-ordered two from Dan @ Tactical Warehouse and received them today the 24th. VDG!!! Cudos and appreciation to Dan.
7. One light had an almost perfect beam with a good hotspot and the tint was slightly yellow, as compared to the L2/L4/L5/L6. I do not find the tint objectionable since it is closer to true sunlight spectrum. The second light had a slight donut hole and was a little closer to the blue-white tint of the L2/L4/L5/L6. When shined at objects other than a white wall, the donut hole all but disappeared. The donut-hole, blue-white light was slightly brighter than the more yellow, perfect-beam light. It looks like some variation on LED alignment and bin quality is going to be the norm. Later the next evening, I did some beam testing with the slightly brighter, donut-hole light with the following results: It just plain blows the L2 right out of the water except in beam angle (flood). The donut hole completely disappears with "normal use". The light was slightly brighter than the L5 and had a slightly better throw as a result. This is consistent with the fact that the L5 is supposed to have 80 lumens of output, and the U2 is supposed to have 100 lumens of output. The beam characteristics are identical with the L5.
The FM-64 beamshaper filter (used on the M2/L5/KL5/KL3 heads) completely eliminated the donut hole and made a very nice "lens-protected" 6-stage flood light, with a "flip-open-for-distance" option. Unfortunately, it greatly expands the head diameter, and may create a stowing problem (pocket or holster). If anyone knows of a slim "slipon" cover, especially with a beam shaper window, that will fit this 1.47" bezel, I would appreciate a PM with the info!!!!
I experienced absolutely no tint change whatsoever when I "ramped-up" through the 6 stages of brightness.
8. When held using the Rogers-Surefire technique, the pocket clip is a minor pain-in-the-***. Holding it pocketclip-down or closer to the tailcap seems to help. I understand that the tailcap is removable but I'm not going to be the first. What the heck, if this is the only light you have when push-comes-to-gunfire, the only real concern is whether it lights up. Since I normally wear a Peltor "hearing-augmentation/decibel-rejection technology" headset, I can attach the U2 to the headband from the rear just as easily as I attach the L1s/L2s/E1s/E2s from the front side, and the pocket clip orientation is not a problem for me. The U2 is so light that the weight is not even noticed.
9. I think enough of this light to make it my PRIMARY "Utility" light and it will replace my L2 in that role. I gain over 400%+ runtime on low and can "ramp up" thru 6 stages to a brighter "high" with a lot more throw.
10. There are no detents at each position. It smoothly changes levels, through 6 different levels, over a total rotation of about 110 degrees. The levels appear to be a little too closely spaced on the arc of rotation at first, until you realize that, for utility purposes, they have to be or you would die of old age twisting your life away. Once you accept the philosophy and get used to it, it is very, very nice. Well-thought-out. I did notice, in playing with it over the next couple of days, that when I VERY SLOWLY tried to move from level 5 to level 6, I could get it to revert back to level 1 during the transition and then strobe. This is a somewhat ridiculous observation and totally unimportant discovery since you would never use the light in this manner. However, it DOES open up some VERY INTERESTING "signaling" possibilities!
11. This is a very high-quality, technological marvel. Cudos to PK. HOWEVER, the goalposts still appear to be too far apart on beam quality, and bin quality IMHO. (I have also, at times, been referred to as a "pain-in-the-*** perfectionist".)
12. Although I found my tailcap to be just a little stiffer than "luxlover's", it was not objectionable and I assume a breakin period will suffice.
13. The light is very light and well balanced - lighter and smaller than the L5, shorter than the L2.
14. The rheostat WILL rotate in your pocket or when placing it into a tight-fitting holster, so a check that the rheostat is full counterclockwise (as viewed from the tailcap end) is in order before activation. It is not that it could use more friction (any more than it presently has would be somewhat inconvenient) - it is just that a check is in order just because it CAN change settings. I used a "Sharpie" silver-metallic, permanent-marker, and marked the full-counterclockwise "low-power" position, and the full-clockwise "high-power" position with a silver dot on the adjustment ring and the body, opposite each other, at the appropriate positions. Be careful - the positions are very closely spaced. Every other position is a "dial-as-desired" situation. This will give me a visual check without twisting. I also did the same for the tailcap to indicate lockout/lockin positions. This is less important, but I do this to all of my Surefires.
15. I like it. VDG PK!!!!! Sure, it can be better, but what couldn't? I rate it as the best "utility" light produced to date. It will do everything that the L1, L2, L4, and L5 combined will do, and do it for $270 instead of $600. What's not to like??!!
16. There is a restrictive inner diameter machined into the flashlight body at the tailcap end that will limit the size of the batteries that can be inserted from the back side. This is NOT the case at the front end however, so "fatter" batteries have to go in from the front. This information is apparently useful to "Pila" users, and "Hoghead" addressed this subject in detail under this post. I'm just a little confused as to why PK would design this feature into the final production model.
17. The HA III BK finish DOES have a slight purple tint and does not match the "flat black" of the polymer parts but who cares. I'm just pleased that PK lowered the weight wherever it was practical to do so, and polymer parts are practically indestructable. Weight is critical.
Hope some of this helps. I will continue to edit this post as I learn more.