Hey Matt,
I too have had problems with the ring and screws on my DBS V2. It came with the pocket clip installed and it was nice and snug. Then one day I wanted to try and install the tactical ring (the one without the pocket clip). Needless to say, it did not fit. I feel like it was loose from what I remember, and I could only get like 2 of the screws in. So at this point I panicked, not wanted to ruin it, and put the pocket clip ring back on. Luckily I got it on snug but I don't think it was easy. Other than that, it has never failed me. Its a great light and I suggest you contact dereelight because you're right, a $110 light shouldn't have ANY problems.
-dole