I wish I could afford to buy several HDS to spread around in cars and go bags. I ended up with Malkoff in all my secondary locations like emergency back packs and cars. HDS is always in my pocket but I can't afford HDS just to sprinkle around like I did with Malkoff Flashlights.
For quite a long run, retail pricing of HDS roughly kept pace with output increases due to emitter tech advancements, at roughly about ~ $1 / lumen (max output)
What I mean is when the HDS (Ra) 100 was new, it cost ~ $99 IIRC, the HDS 120 ~ $125, the HDS 170 ~ $159, etc, etc.
I tended to pick up prior versions secondhand (back when CPFMP was around), at typically ~ 25% - 35% less, after each upgraded release.
For me, even 100 lumen output is just fine, and I now have an assortment of plenty of older models for not much net cost difference than my Malkoffs.
That system probably wouldn't work now though, because most of the vintage stock is not trading so commonly.
I appreciate having both HDS and Malkoffs very much, but use them each in rather different settings.