From my experience with my recent purchase of a MC-E and P7 in P60 design. They underproduced due to (not confirmed yet) the lack of heat sinking.
The Tripple Malkoff drop-in was brighter and makes a true 700 plus out the front from a 4C maglight. The reason the Maglight makes more light is because the host allows for proper heatsinking.
This theory will be tested shortly. For now I say if the heatsinking is adequate then a MC-E could potentially be up to 700 plus lumens, but throw will not be as good as the tripple Q5. I do not think the cheaper DX lights will have the heatsinking required to maximize the output of eighter application.
The Legion II with a single quad emitter does make over 700 plus Lumens and so does the Tripple R2 Malkoff for Maglights. Both are huge and the Malkoff is not made any longer.
If Malkoff Made the Tripple R2 I would purchase it new for $149 or a used one in the Market place for $100, but it is likely to carry a premium. The Tripple R2 really throws too....