Yep, much dimmer with the LiFePO4 18650's. As far as I know, the VB-16 uses only a buck circuit, so in essence a LiFePO4 18650 will behave like a depleted regular 18650. What does work very nicely is two LiFePO4 RCR123's... that's what I use in mine. Full brightness, without the worries of Li-Ions... albeit a reduced runtime.