In my opinion, press and hold is a trade-off some people will prefer - the RC09 is almost an inch shorter than the PD25, and that surely matters to a lot of people. Personally, I chose the PD25 (which I really, really like) because of the tail switch. I use momentary all the time, and really miss it on my E25 and other lights that don't have it. But, it's 9/10 of an inch longer than this light.
I know moonlight is an immensely popular feature. I find that the 5-lumen low on the PD25 (same as the RC09) is at least as low as I need. In fact, I often kick it up to medium, even in the house. Five lumens is probably too bright in certain circumstances, but not the ones I encounter, and I wonder how many people would still think 5 lumens is too bright if they actually tried this light.
Compared to the PD25, this light gets you Ti, the 16340 battery, and the ability to recharge in the light - all great things, and it seems like a good value. As a true believer in the CR123A form factor, I'd almost surely buy one if not for the lack of a momentary switch. If they come out with an aluminum one at a lower price point, I may get it anyway.
But I am sure a lot of will be disapointed again, cause no true "moonlight" mode. 
