This light is very similar in construction to the Astrolux M01 - looks like the same driver and head arrangement, but with a titanium body. It does not have any regulation or microcontroller. It's operated by rotating the head to switch it on to low mode. Screwing the head fully on enables high mode. This is perfectly acceptable for a light of this size, as it's hard to cram a more sophisticated driver in, and the simplicity is refreshing. The choice of modes is good. High mode is reasonably impressive but drains the battery quickly, and low mode is enough to see where you're going (and still brighter than the old incandescent Maglite Solitaire). The lack of regulation means as the battery drains the light will become dimmer gradually, which is great for this type of light really, as you want to make the most of a dwindling battery rather than getting plunged into the dark. But, there is therefore (presumably) no under-voltage protection, so it's best not to leave the light on unattended / as you fall asleep as it will under-discharge the cell.
The light has a TIR optic that projects a smooth beam pattern that's surprisingly throwy for the size. I think the beam is perfect for this type of light, where you want to make the most of what little power you have and don't want it flooding everywhere.
I'm not sure what the LED is but it's a bit underwhelming. The phosphor of the LED I received is not the same colour as in the photos on the website, so I wonder if the emitter was changed at some point. The light is cool white and low CRI - comparing to some other lights just visually I'd guess around 6000K. It's not bad - it doesn't have a weird tint or anything, and only gets slightly blue near the edge of the beam, and is probably a good choice for this sort of light where you want as much efficacy as possible to make the most of the limited battery, but still, a lot of colours look muted and dull - I'd prefer something a bit more neutral with a bit better colour rendering, which can be helpful if you don't like stepping in dog waste.
When the head rotation is close to the point it switches on or off, the light can flicker on and off a lot as you touch the head or move it, which can be a bit annoying. The way the head passes over the O ring as you turn it means the O ring isn't really clamped down, which makes me sceptical of the stated IPX8 rating. I would imagine it's fine in a rain shower but I wouldn't want to immerse my new light in water to test it.
The body with blue finish looks very nice. I can't see any rough edges on it, and the surface is nice and smooth. It tail-stands just fine, even with a thin lanyard attached. It really is quite small - it can easily be lost in a pocket - just what I wanted. The thread squeaks sometimes when turning but I don't know if I should lubricate it because it might gum up the USB charging port.
Speaking of the changing port, note that some micro USB cables won't fit in it due to the O ring getting in the way, so if yours doesn't fit, try a different cable.
The battery is a tiny 10180 (same diameter as an AAA but shorter and li-ion) which can be replaced when worn out, which is great. Although, compared to the light, the 10180 battery is tiny. Looking into the battery tube, there is quite a bit of spare space between the battery and the tube, suggesting that the light could have been made even smaller. (The DQG Hobi, which uses the same size battery, is much smaller than this, although it omits the USB charger.) I would love to have a slightly longer 10440 tube option, which would only add a couple of centimetres (or less if the charger is excluded) but hugely improve battery life.
Still, for what it is, it looks very attractive, it's a dead simple 10180 light with a great beam pattern, and the built in charger means anyone can use it, so i t makes for a great gift light too.
Mine's staying in my pocket. (Except when using it, obviously.)