Well, I bought this light today, and I'm unimpressed (at least it's cheap for 7 LEDs). It's definitely not an EDC, but it suffices as a power failure light.
The blue color of the aluminum sucks, plus there are lots of aluminum filings on the threads on the head, which does seem to have properly lubricated 'O' rings. When you unscrew the head, the LED circuit board promptly falls on the floor. You turn it on and off by turning the head back and forth, but there is no detent or definite feeling that it's on or off. Makes you feel that it might turn on when you don't want it to and kill the batteries.
I'll comment later on its brightness, since it's 2:14 in the PM here. The Wal-Mart alkalines I bought for it are rated until 2009, so I won't worry about them dying before then.
Our power (rural area) fails at least once per year for up to 16 hours, so I'm looking forward to this light being a good replacement for candles, but not much else.