It looks like a properly driven XPG in a very cool looking host. Kudos for the AA/14500 performance. To bad about the OP reflector, which I feel will hinder sales in their entire lineup.
All the top quality manufacturers use OP, I much prefer LOP to SMO in all but the most dedicated throwers. Balder are trying to look 'quality' but at a lower price. They have done it very well with the design, and they are trying to do it with the beam too. There is something about imperfect beams which really takes away from the overall quality feel of a light.
It's more convenient this way, since most reviewers will take wall beamshots and make a comparison. Secondly come the field beamshots. I think Balder realized that. Maybe with SMO their beampattern wasn't looking perfect. Now it doesn't matter anymore. It's a different acceptance now, they will release SMO reflectors, and no matter how the beampatterns will be, it was done by public request. Though I don't think they'll look bad.
I was hoping for a slightly lower price. I'm searching for a replacement for my xeno. The mode separation is ok on alkaline. But horrible on 14500. Thought this might be perfect till I saw the price. You can never have everything. Too bad about the pwm also.
Unfortunately the graphs dont tell the story as I didnt actually do full run times , I was only checking the regulation @ certain battery voltage levels ...
So the minutes would be some what misleading [ only partial runs ]
With the AA I started at 1.25v [ Nimh usually are 1.36v to 1.39v = well mine ] and the 14500 missed out on the 4.2v to 4v range , I think I started at 3.99v as I wanted to see where the output dropped off ...