First ... there is no Aleph 2-stage clicky. The Aleph tailcaps using the McE2S module are 2-stage twisties like the A2/L1/L2 SF-switches, but without a lockout function.
There are ways to modify a Z57 clicky to get 2-stage function which changes the user interface, but don't know anything about the reliability of those mods.
Talking about the McE2S ... the low level depends on the resistor used in the tailcap, and can go from very low to relatively bright, but it can never be that bright because it drops the driver of the head out of regulation to achieve a low level. It will not reduce the brightness on high level.
Using a resistor to have a low level is inefficient, yes. BUT ... it is a great way to make a 2-level light out of many existing one-level lights, and the runtime on low is still impressive, so the loss isn't that terrible. But it is there ... for example ... with a McLuxIII-PD you will get about 42h on low level on 1x123 battery with a regulated low level ... whereas the McE2S equipped lights generally do not go much beyond 20h of low level, if at all. Now ... this comparison is flawed in many ways as I don't have the data on the exact light that would be comparable to the McLuxIII-PD in my head right now ... but you get the point.
And yes, the McE2S 2-stage switches are being phased out now. Don (McGizmo) uses fully regulated 2 levels now, but not in E-Series lights ... beginning with the McLuxIII-PD his lights use the new "x2" Series of drivers by dat2zip with 2 fully regulated levels.
On a purely personal note though ... I think the McE2S was one of the milestones on CPF and still offers great potential for a lot of existing lights in the Aleph Series or other E-Series lights ... like the L4.
bernie