I think it's an outstanding switch.
It's almost silent in operation, and it has a terrific tactile feel that is very predictable, and just the right amount of activation pressure. There is never any concern about getting a click-on when you are only wanting momentary.
It's as good a switch as I have used, and my other lights are all Malkoffs with McClickies or Judcos, and I also have an HDS Clicky. I'd say the Elzetta switch is as good as any of them.
I've never had any problem with mine, but I've only had the light about 2 years.