It arrived today! I still feel like a kid when a package arrives at the door
So, first impressions are that it's much like a Fenix, with slightly fancier packaging and accessories. The box included a holster, a nice JetBeam-style strap and a rubber 'finger grip', none of which I'll use, but it's nice that they're there. A 4Sevens branded battery also came in the box, which I did appreciate.
The light itself has lots of knurling, which is great, and is nicely built. The model I have (1xCR123A) is the only one where the clip is not removable/reversible, since it's so short.
I've programmed the two modes on my light to the maximum and minimum settings. Maximum seems as bright as you'd expect (though supposedly the warm tint I've ordered is slightly dimmer than the regular one), and the minimum is extremely feeble - just right for the modern nocturnal trespasser!
One issue, though, that I had read about, is an initial flash of light when using moonlight (0.2 lumens!) mode. It's only slightly noticeable, unless you've just had it on max mode, in which case it's quite a bright flash indeed. Time will tell whether this is a problem in real life.
Overall, out of the box, I like it.