Yes,
I have a new snow-29 high power McKinley and a Caribbean. I also had an old style 7-led non-snow high power McKinley.
First of all, output is much brighter with the snow29 than the old style. The beam pattern also has more spill than before. The spillbeam of the new style head has a more irregular "6-pointed star" look to it than the old style, which did not have much side spill at all. I definitely prefer the beam color, additional spill, and brighter output of the new snow 29 McKinley to the old one.
There is a significant difference from the McKinley compared to the Caribbean, in all areas, except for size. The Caribbean has a much tighter hotspot, smoother spillbeam, and overall higher output than either McKinley. (It also generates more heat) The Caribbean definately has THROW! It's hotspot is tighter than my XM-3, and brighter. In fact, for some indoor uses it is too bright, and I reach for the snow29 McKinley instead. In general, the McKinley has a wider hotspot that is excellent for short to medium range.
These lights are quite different, which reflects their very different designs. I really like them both, however. They are also very light with the aluminum body HA-III style, and can use a 2AA battery adapter with Kroll switch, which you can order from Peak as well.