This is from their recent review:
http://contents.fifthunit.com/html/reviews.5th/review.001_1.html
1) 10W K2 Dual Mode flashlight
According to its manufacturer YANG, this flashlight has genuine Lumiled K2 bulb built-in. This flashlight looks like the 2) 7W flashlight. Its construction is very solid. It also features dual light output modes to save power if needed. We used the two of the recommended LIR 3.6V CR123A batteries and see how it performs:
High mode
1) Throw number (LUX): 2470 at beam center (49.70 Comparison Chart equivalent)
2) Output number (LUX): 5510 (55.10 Comparison Chat equivalent)
3) Estimated Lumens (Lumens): 76.59
4) Beam pattern:
Nikon D50, Tamron 90mm Di Marco, 1/100, F8
Low mode
1) Throw number (LUX): 1290 at beam center (35.92 Comparison Chart equivalent)
2) Output number (LUX): 2600 (26.00 Comparison Chat equivalent)
3) Estimated Lumens (Lumens): 36.14
After the test comment:
This is most powerful LED flashlight in our test. The white light produced by the LED is a high color temperature and produces good color rendition. The white light is a little toward the warm (yellow) side, which is a good thing to cut through rain and fog. The slight tint is not noticeable during normal use. The beam pattern is nice and even. It got two inner circles of central spot, while the spillbeam starts from the second circle and extend all the way to fifth circles (it keeps going but it's not showing in the picture).
Wonder how does it light performs using the 3.0V CR123A batteries? Let's give it a try too:
High mode
1) Throw number (LUX): 1970 at beam center (44.38 Comparison Chart equivalent)
2) Output number (LUX): 4070 (40.70 Comparison Chat equivalent)
3) Estimated Lumens (Lumens): 56.57
Low mode
1) Throw number (LUX): 900 at beam center (30.00 Comparison Chart equivalent)
2) Output number (LUX): 1840 (18.40 Comparison Chat equivalent)
3) Estimated Lumens (Lumens): 25.58
So, the decrease of 12% voltage (from 4.2V to 3.7V) actually hurts the performance by 25%. Is it worth it to run the 3.0V CR123A Li-ion battery, while it handles 3.6V CR123A Li-ion battery just fine? It's up to you.