Got mine in the midwest today. My impressions:
Shinier finish than the L1P. I prefer the L1P's matte finish, which feels grippier and has more of a quality look & feel.
Low is not quite as bright as the L1P, and High is only a little brighter than the L1P on a fresh Sanyo 2500 NiMH. The L1T is on the Lithium it came with.
There is less difference between hi and low than I would like to conserve batteries, but the low is a good bright level for close work if a little too bright at the spot, and not bright enough in spill. Credit the throw intensive reflector. The hi level could be brighter, but since the L1 and L2T use the same head, I know my one AA is not pushing this to it's potential. I need a 14500...
Very cool to be able to se it at one level with the head and then be able to click on and off all day at the desired level.
High compared to the Jet-1 AA on Lithium is somewhat similar with about equal spot brightness and the Fenix winning spill brightness by a small margin. The Jet has a bigger hot spot though. I had more color difference with the Fenix more purple-ish, Jet more warm yellow. The color difference made it hard to tell, but maybe the Fenix was a little brighter.
Otherwise it is just like the L1P: same machined body, same switch. It is a tiny bit longer when unscrewed to low, but otherwise, it's the same length too.