With the basic model, you can't set any of the four brightness levels. They are preset. You also can't set the brightness level the light goes to when you first turn it on. That is also preset.
Here are the four levels:
Maximum
Primary
Secondary
Minimum
The basic will always turn on to Primary. This gives you about 10 hours of runtime on one battery. Once the light is on, if you hold down the button, it will switch to Maximum, which gives you about 20-30 minutes, depending on whether you have the XR (extended runtime) model. When you release the button, it will revert to Primary. There is a way to turn it to Maximum without having to hold the button down as well. And of course you can turn it to Secondary or Minimum. However, when you turn it off and back on again, it will always turn on to Primary.
The good news is that the basic's four pre-set levels are chosen perfectly. At least, I consider them to be perfect. I would not change them a bit. Two of the levels emit a very slight whine from the inductor on mine; some people with the ultimate model have raised or lowered their presets one level in order to reduce or eliminate this whine. But really, it's not a big deal. Unless you are working late at night often and need to preserve your night vision by having the light always turn on to Minimum or another setting of your choice, and don't want to deal with holding the light against your hand or leg in order to cover the light until you've clicked it into Minimum, or unless you need the SOS function or really love all the possible modes you an program your light to, the basic is a much better choice for the money.
If you find the XR model, it's worth the extra $4-5. If you find the XRGT still in stock, get that one, it's worth the extra $9 over the standard basic model.