I had a Scorpion xenon and have a Scorpion LED (gave xenon to my bro-in-law). I prefer the LED for several reasons:
1. I don't like how the xenon version requires unscrewing the head to change focus (the TL-2/NF-2 is better where you just adjust the bezel).
2. I can run rechargeables in the LED (such as 1x 17670).
3. LED runs for much longer and has regulation (FLR's reviews showed it stays in regulation for over 2.5hrs, close to 3hrs before hitting 50%).
4. Found out the Scorpion LED head fits Vital Gear FB1/FB2 bodies.
The LED version's not quite as bright as the xenon, but it's plenty bright and has great throw for it's output (around 40 lumens). I got my Scorpion LED for $40, which is a great deal for a nice 2x123A LED with momentary switch.
For a xenon, if I were to stay with SL, I prefer the TL-2 and NF-2 (for a 2cell, TL-3 is great if you're ok with going to a 3cell, which can run 2x 17500s also). Going away from SL, I think the SF G2 is a better deal (can be had for $30 shipped) and the Wolf-Eyes 6-series is a better deal (and brighter than both SF G2 and SL). The nice thing about the SL's is the low cost of the bulbs though.
For another LED choice that's very affordable and a better deal in terms of what you get for the price than the SL Scorpion LED, look at the Huntlight FT-01 from JSBurlys.com. For $31 (+$5sh), it's brighter than the Scorpion LED (around 60 lumens!), has a very nice beam, well made, and stays in regualtion for 3.5hrs! It also has a driver that can handle anywhere from a single Li-Ion (3.7V) up to 2 Li-Ions (7.4V, 8.4V hot off charger) and can fit an 18650 cell. The only negative is the reverse clicky, but if you don't mind that, it's an awesome deal. I use it more than my Scorpion LED as it's noticably brighter.