My black P1 has lived on my keychain for about 2 weeks. Great light. It goes wherever I go.
Small and very light weight. It's not terribly noticable amongst the four keys.
I used it for about 10 minutes last night to illuminate an 18'x18' room, mostly held by hand, but occassionally sitting on its flat bottom. By shining on the white celiing, it easily lit up the whole room.
It was easy to hold, but admittedly it was on the keychain, not by itself. I don't think there would be any problem holding it by itself without the keychain.
Hard to beat this value for what I want. It's very small and has a very bright light with 2-hour regulated run time.
My only additional desire for this flashlight would be a low level output, but if a clickie was required to do this and added more than 8-10mm, I don't think I'd buy it. I really like this small size for pocket carry.