Yes. I compared them yesterday in my basement. The Q-III was eating an R123 (Nano) and the HDS was on a Surefire. Not scientific, mind you. The lights have similar spill/flood , both in terms of output and size of the flood area (with the HDS on high). But the HDS has a hot spot in the center that adds throw, which is lacking in the Q-III. I can't quantify it, but the HDS will certainly reach out and touch something, whereas the Q-III will not.
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