Dear WilliamH
Supertorch and several others in this thread have the right idea: now is the beginning of the next quantum leap in emitter technology. Cree and its competitors can put more lumens out per watt input than the past standard of the industry, which was used in nearly everything, including the Inova T series. We are going to find plenty of new models using fewer batteries or making more lumens with the same weight and size, and very soon. Now is a time for waiting and careful watching.
That having been said, the existing T series are very good devices for reliability, warranty, durability and beampattern. I have a T2 (in my pocket now and edc) and two T5's, one for the daughter at college and one for the wife, a realtor who shows dark basements to clients and checks out the exterior of houses at night right up to the top eaves without difficulty. Stated lumens are always "related" to reality, but by a factor less than 1.0. In the case of these two Inovas, the real-world output is what I expected and quite good IMHO. BTW, I get a runtime of over 5 hrs (estimated by summation as best I can) from my T2 with very intermittent use.
Fenix is the first to get a Cree light to market, but be certain that there will be lots of competitors in the near future. So either hang on to your wallet if you don't NEED a light this second (my suggestion), or look for serious discounting of a great light using what is already old emitter technology.
-Harvey K.