Most of the 'buzz' around this series of lights has moved over from this forum to Flashlight Forums. A visit there will give you all the info as to benefits etc of this mod. I have not seen any info here about the upgrade to a fully regulated driver.
You also might want to contact George at
http://www.taskled.com/.
He designed and built both the boards in question. He is very helpful and will answer any questions about his products.
Swapping LED's and removing the driver is very quick and simple. However I do not believe that the new driver is sold separately. You have to send it in to one of the designated modders . Could be wrong on this last point.
Very glad to see more users appreciating electronic side switches.