46 lumen is the actual measument of the britest in the batch, according to Fenix. This is for v2.5. For v2.0, it's 36-40 lumens. One reviewer measuered peak run time at 80% peak brightness for 130 min for v2.0, and he thinks the peak brightness should be at least 30-36 lumen, which is consistent with Fenix's claim. We don't have info on the low end output for v2.5, but I guess it should be at leas 40 lumens. QIII's peak output is about 30 lumen. I have been carring Q3 for severa months, it works well with high quality cells but not with the cheap ones bought from batterystation. And it doesn't have enough side spill form me. If Fenix can live up to it's claim then it'll be a near perfect EDC fo me.