The light is not regulated. I usually get about 7 hours of bright light and then low output forever. I don't know how it compares to a pm6 but the throw is pretty good and it has excellent spill. I have had mine for about 13 months with no problems.
Streamlight has just recently come out with a new version of the TL-2.
The new version is regulated while the old one wasn't.
For more information, see The new Streamlight TL-2 Luxeon LED.
Hope this helps,
Pat
