Al, I agree with pretty much everything you said. Low light tactics are best left to professionals. And most of the true pro's choose Surefire over ITI for reliability reasons.
I took a course and learned a lot, but still have a lot to learn and little time to practice. When something goes bump in the night in my house I like to have one hand free to open doors, turn on lights, call 911 etc. so I use a weapon light as opposed to a weapon and a separate light. I bounce the light off the ceiling to illuminate dark rooms. The M2 does a better job for me in this particular regard, so far. When carrying a gun outside the home day to day I use a smaller gun and carry a separate light.
As far as pitting an M2/M3 against a P60, a well focused M2 will match or beat the output, with almost as good a beam, at least with the ones I've tried (similar to a scorpion vs P60). The M2/M3 bulb life is significantly less than a P60, and therein lies part of the tradeoff. I agree that having a focus feature on a weaponlight is counterproductive, a flip up beamshaper would make much more sense. And the M2 will need to be refocused after 100 rounds or so. Some people get theirs focused in the way they like it then put a little piece of tape on the bezel to keep it in that exact focus while shooting 100's of rounds. My bezel is nowhere near falling off when in a tight "Surefire like" focus pattern, and it is tight and difficult to turn, not at all like a focusable flashlight. Interestingly, the X200 with an e series beamshaper on it makes it a better weaponlight for my particular - in home - bump in the night usage. Time will tell I guess. Hopefully it will never be put to a real life or death test.
The X200 is certainly an engineering marvel and I'll leave it up to the pro's to use it for a year or two and then read their opinions as you do. I've seen your posts on some of those forums, the Surefire guru /ubbthreads/images/graemlins/wink.gif. It's good to see you there too to keep the Surefire facts straight and provide valuable info. They have some knowlegable people there, but also lots of armchair warriors with no real world combat/LE experience too. Just a lot of range time and classes (like me).
I've only had my X200 a couple of weeks now so I really only have intial impressions so far. I may change my opinions as time goes by. It also hasn't seen much range use yet. It sure is fun to use as an EDC light though. Don't get me wrong, I really like the light, but for the average armed citizen/homeowner, it may not be the best "bump in the night" weaponlight. For LE however, it will probably take over the handgun light market from ITI/Streamlight. The only thing holding Surefire back in the past was the huge size and bulky add-on rails. They always had the reliability edge.