Yeah its probably thermal glued on there and should be ok. I just changed the thermal grease to arctic silver on mine. Id say this light is probably regulated as i had it on the same batteries since i got it and still quite bright.
Thanks for the reply, agenthex & jamesearljonesisascab! 
Im doing some testing tonight to see if this light is regulated. Im doing 10 minutes on high then take readings and 5 mins of cool down then back on again for 10 mins. the head gets quite hot while the body stays warm and easily holdable. im doing a side by side with the Trustfire X8 also.
results so far:
STL V2
4.2v 4.08 3.99 3.90 3.82 3.77 3.74 3.70 3.63 3.50 2.99v
1.42a 1.40 1.42 1.46 1.48 1.52 1.54 1.54 1.56 1.63a light shutoff at 2.99v
X8
4.18v 4.03 3.95 3.87 3.80 3.76 3.74 3.67 3.55 3.04v
1.54a 1.53 1.50 1.53 1.55 1.55 1.57 1.61 1.67 1.95a
Pretty linear current on both.
need to plot these on a graph.
thats 100 mins of runtime with 5 mins of off time in between.
Brightness was pretty constant but i have no way of measuring Lumens.
So, does the x8 shut off or did you stop the test? Are they protected or unprotected cells (shutoff via light or battery)?
Thanks.
4.2v 4.08 3.99 3.90 3.82 3.77 3.74 3.70 3.63 3.50 2.99v --> Is this voltage of the battery?
1.42a 1.40 1.42 1.46 1.48 1.52 1.54 1.54 1.56 1.63v light shutoff at 2.99v --> Is this current draw of the LED or battery?
I used unprotected cells. the stl v2 shut off and then i took the battery voltage. the x8 would probably keep going but i decided to stop. Big dip in voltAge at that point. the x8 will dim when it hits the cliff and won't change modes anymore. seen it once.
I took those voltages and currents as soon as i turned off the light and unscrewed the tailcap. maybe i should have let them rest? i figured that by doing the way i did it i would get the most accurate cell voltage without letting it creep back up to resting voltage and give closer results.
Amazing how bright they were throughout these tests. again im still pretty impressed by these two lights.
Sorry yes voltage on top and current at the bottom. thanks!
Wow, You did check every step!
Thanks a lot for your effort and information.
How does this light compare to the sky ray 3800. I was going to buy that light but I saw some beam comparisons with tk70 and an olight and throw was very poor. Although i'm not that throw minded i was wondering how the spill of this stl-v2 is. And i suppose it has a memory?
greetings!
The light does have memory. i don't own a 3xxml and i can't tell you how they compare to this light. either one you choose im sure you'll be happy with. why not get both.
Have you thought of getting the Yezl T9 Flood to throw. this seems like what youre looking for.
1 is 10 minutes on the X-axis.
That's pretty crazy how much brighter it appears despite using less power.
I've known that head structure(size) is quite an important factor to the flashlight's beam profile through Fenix TK50 & this monster.
Candle lamp, your graph is wrong. It should be times 2, think you used 1-cell voltage instead of 2-cell. XM-L is basically a 10-watter.
Yes i should have mentioned that the voltage x 2 because i used two cells on both lights.
Yes, Y-axis values should double.
2X18650 is correct and I've forgotten! It's my mistake.
Just fixed now.
I just received the Fandyfire version of this light and after close inspection of your photos I can say it is exactly the same flashlight with two mode groups(only a few $ less expensive)
A crazy bright trower (can almost compare with my 35w pob HID)
That's good, PHEW.... glad it is working and exactly the same thing OEM, just rebranded.
I purchased the same one from DX, should be arriving soon one of these days.
But remember, this is the first "batch/version". 