I can tell you that the regulation in the Malkoff Quad does NOT suddenly cut out (unless you're using protected Li-ion cells, in which case that's the fault of the battery). When the cell falls below a certain voltage, the dropin runs direct drive so you can still suck your batteries dry.
My preference is for Gene's regulation because it gives you more power source flexibility. For example, it's just as easy to put the Quad in a 2D maglite powered by Kaidomain's 2D rechargable Li-ion pack (~8V output) as it is to use it in a 4, 5 or 6D with alkalines or NiMHs. My understanding is that Wayne generally recommends a 3D maglite running NiMHs because they feed the LED just the right voltage, and thanks to low internal resistance, voltage sag is minimal thoughout the life of the charge so the light output remains roughly constant - no real need for regulation in this configuration (and, bonus, no efficiency loss from regulation circuitry). Drawback here is that you're pretty much stuck with the 3D configuration.
I think any of these dropins will run just fine on alkalines. However, depending on the power (like in the Quad for instance), you may be seriously overdrawing your batteries since alkalines are not designed to deliver such high currents (NiMH or Li-Ion are MUCH better suited for this). For a single emitter dropin (XR-E or SSCP4), I don't think alkalines are a problem. I believe for the Quad, alkalines will quit after about 60-90 minutes of runtime and require a "rest" before they can drive the light again. Wheras with (for example) 6 x NiMH D cells, the Quad can be run constantly for nearly 4 hours.