Thought about it some more. These are my deal breakers. In order of magnitude.
No proprietary or glue-sealed battery designs = I must be able to replace a dead battery of common size/chemistry. I do not want to field re-charge a dead battery with a battery bank and USB cable. Totally impractical.
No CR123 only = Its 2018, I have been posting this one for almost ~15 years (!!!) on CPF well before BLF days. I can’t believe I still need to post this as a bullet, but none the less, there are still designs out there. If it only takes CR123 cells, its totally useless to me.
No 3AAA & 4AAA = Inferior in so many ways, although I would take a 3xAAA light (of comparable quality) any day over a CR123 only light.
Battery carrier/caddy = No thanks, just one more thing that can fail. Physically its another thing to get in the way when field reloading cells.
Mechanical power lock out = Must have, I have nearly burnt my hand on lights that were accidentally turned on for lord knows how long in my pack… annoying as hell
Low frequency PWM = I am very sensitive to this, although it can be fixed with a DIY driver mod. Still as long as I have a choice, I will pick a light without low frequency PWM.