From various threads, I don't think the LED in the L0P-SE is underdriven.
Assuming this is the case, and that the brightnesses of 12, 4.5, 30lm are true.
And assuming that the Cree I have makes its 80lm/W minimum bin rating, I make that 33/12/80lm.
Which isn't bad at all.
The only review I can find of the L0D on li-ion says 80lm, so it's comparable.
But, runtime on high is around 40 minutes, and as I understand it, with Li-Ion, this will be around 20 minutes.
Then there is the fact that running on high at 3W will burn your fingers
Oh - you mention that you think low/medium brightnesses may be different...
Unfortunately, due to a moderate bug in the L0P/L0D series, the LED current stays constant, it's just turned on and off at 60Hz or so.
This means that unfortunately, you don't get the boost in efficiency that occurs at lower current for a constantly on LED.
I don't have figures for the luxeon, but for cree.
If the figures for PWM are 33, 12, 80lm, then the average current is around 144/52/350mA.
Looking at the LED output graph, at 144/52, it's around 120%, and 140% as efficient at those currents as at 350mA.
Which would equal an output of 40/17/80lm, compared to 33/12/80, for no extra power consumption at all.
In fact, it's likely to use less power, as less will be lost in the power converter, and gain from less losses in the battery too, especially with moderately discharged alkaline batteries.