Lanterns are good for outdoor use, and tail stood flashlights are generally considered better for indoor use.
The problems with lanterns is that they produce a glaring light. Typically multiple emitter lanterns produce less glare. The Steamlight siege and similar, and the CL25R that you just mentioned, do use multiple emitters, but they at least are of the SMD (Surface mounted diode) type, that are more efficient than the cheap 5mm round ones.
Regarding lanterns, I like the energizer folding lantern with light fusion technology for its ability to diffuse it's light without much glare. If it had a 4D cell option, it would truly be awesome.