The Terralux single LED drop-in is brighter than the first gen Mag-LED. I think it uses a Rebel LED. The latest LED Mags use a Cree XP-E emitter, which is brighter. The Mag-Pro 2d uses and XP-G, which is even brighter, but the throw is a bit less.
If you have an older Mag that you want to upgrade, the Terralux is a good option. It throws pretty far, and has a good color. However, you might actually be able to get the Mag-LED Cree version for a similar price if you happen to catch one on sale. Be aware that the newest incandescent Mags use a bi-pin bulb with an adapter. The retaining collar is slightly different and may not work with the Terralux upgrade.
I unfortunately fried my Terralux drop in by over-driving it. I got some serious brightness but I think it overheated or something, as it is barely glows now. I guess experimentation has it's prices.
Side note: I have seen a similar drop in (looks like the same circuit board and housing) with a Cree LED made by another company called HQRP. It's supposedly between 180-200 lumens. I might try one.