If I may make a prediction, the LxS series is going to be much cheaper than the LxT series. I too think the literature indicates the loss of HA-III (one of the best features of the Fenixes, IMHO). The L1S runtime indicates a drop in efficiency as compared to the L1T. Of course, the L1T is underdriving a LuxIII. The L2S has the same performance on low as the L2T, but a dimmer high. Personally, I don't see the use. If I need runtime, I run on low, and use high when I need high. I don't think there would be much of a market for it unless it's a lot cheaper. Also of note is that the L1S and L2S use different heads (max input voltage 1.7v, 3.3v, respectively) like the L1P and L2P. Thus the L2S is the better buy.
Obviously, Fenix agrees with me that the E1 is not a suitable replacement for the Arc AAA, hence the E0. I'm sure the E0 will be cheaper than the Arc, but that's not what we bought the Arc for in the first place. I'll be waiting to hear about the first E0 someone drops off a cliff.
We'll still have to wait for a two-stage P1 and flat-regulated L0P.