I opted for the LSH bundle. I liked the idea of a simple on/off light, with no double/triple/ten clicks to access menus and functions. I also really wanted the AA pack for rechargable NiMH cells. Finally, I guess the idea of a "second" scared me a little.
This is my very first Arc flashlight, and I'll say I'm very pleased with #974. I have a couple of comments, though.
1) The tint has the slightest smidge of blue in it. It's nothing like the blue in my Turtlelight, or my CMG infinity, and it's certainly acceptable. Maybe the premium models are whiter. At least it isn't green.
2) The knurled grip on the head matches the knurling on the AA pack, but not the 123 pack. Why? I can't say it bothers me, but it would be nicer if it matched. The 123 pack has a more aggressive pattern than the head. I prefer the softer diamond hatch on the head and the AA pack.
Overall, I'm quite happy with my new light, and I'm already finding it very handy. I think you've got a tough choice choosing between the LS bundle and the 4 second. Good luck!