1. The cree version is much shorter than the older lux 3. If it's the same length as your current cree L1, you'll know.
2. Also, compare the output. The cree version is a lot brighter on both settings.
3. Look at the beam profile (with no beamshaper). The lux 3 version produces a somewhat square beam, the cree beam is much more round.
4. these comments only hold for the lux 3 version--I don't have the version before that, but you can always look at Milky's L1 evolution thread for details. It's here
https://www.candlepowerforums.com/threads/151425
5. If it's the old version and you already have the new version, then keep the old one! The runtime on low is fantastic (90+hours) and is a great low output light. I use low with a beamshaper nightly to check the kids and house. I like both versions (yes, have them both).
-prof