L1
The Low output of the L1 is designed to be low.
Obviously Luxeons vary. My E1e+KL1 is about the same as my L1. The difference is the low output mode which is very useful if you need light without glare or low light so not to interfer with others (map reading in cars etc)
I guess the "whiter" light from LEDs mean that compared to same output of a bulb,the LED will be whiter giving you a sharper better defined image.
If you were to have two flashlights to cover the high/low of the L1, you would need either two hands or time to swap between them. With the L1, you have a choice in a simple, easy to use single flashlight.
The ArcAAA can be used as a backup on your keys etc because even though I will EDC the A2 & L1 (in opposite pockets), I will still have a PhotonII and ArcAAA on my keys.
The L1 is the way to go.
Al