in an open paddock with my 123-2 Turbo I can clearly see a light coloured ten inch diameter fence post at between a measured 150 and 160 yards (varies dependent on conditions).
If I hang a black tyre on the post I can almost make it out at that distance but really need to come in to 140 - 130 to see the dark object clearly.
If one just wants to see trees then they can be seen dimly at about 170 - 180 and reflective signs (totally, completely and utterly pointless as such a test is) can made to glow at 300 - 400 maybe more just I don't have any that are further away than that.
As was said in the previous post, it's very subjective, it's very much dependent on what you're looking at in terms of size, colour, background and conditions including ambient light and of course it's also going to depend on how well one sees at night (I see extremely well at night so others may not get as much distance out of the torch).
If it's of any worth as a comparison, my Led Lenser P7 easily beats the Turbo 123-2 by at least thirty to forty yards even on half used eneloops.