I like the Eternalite. The big question these days is, why spend $ for the eternalite when there are other choices in multi-stage LED lights? E.g., SF L1 will get you a low and high beam. PT Aurora will get you several choices of beams.
I think the answer is the range the Eternalite has. The low beam is so low, it works as a good night light (and provides plenty of light for simple navigation for night-adjusted eyes), and it can run this way for hundreds of hours. On high beam with lithium batteries, it's got to be putting out 8ish lumens, which is bright enough for a whole lot of things. I think it's a fantastic camping, hotel, or power outage light -- a wide range of light output, and can run insanely long when you want to conserve power.
Aside from the dimmer, I've used a couple of other modes. The momentary-on mode is very useful at times. And I occasionally put the light in "dazzle" mode, which fascinates the kids. Hey, I did say it's a great hotel light, not just for the various modes (including night light), but because it'll distract the kids for at least 20 minutes at a time /ubbthreads/images/graemlins/smile.gif
Two-stage luxeon lights are better EDCs, as are the LED/Xenon hybrids, IMO. Eternalite is best choice for some important more-nichey applications.
Joe