I think they're a tougher sell at $120, since Arc4 firsts are going to be $150 with a lifetime warranty, one free software upgrade, and further software upgrades available at $20 a pop. We never found out whether Arc4+ seconds are eligible for the $20 upgrades, and it occurs to me that the upgradeability feature may not even work.
Quite a few of the $99.95 ones were sold during the weekend. My guess is that a fair number will show up on BST after a little while, not because there's anything wrong with them, but it's normal for CPF'ers to buy lights just to try them out and see if they like them. There's lots of cool aspects to the Arc4 but some percentage of folks are still likely to decide that it's not what they're looking for.