14500 does produce slightly higher output than NiMH, based on my initial measurements. XP-G R5 was 725mA on high which is more than 250lm. Yes, I like it a lot and I have been playing with it for the past 2 days. I do own a couple of ultra-compact class flashlights, but none of them is able to hold up to my expectations until now. It is definitely my first choice for EDC light right now. But please do not take my words for it, as choosing flashlight can be a personal thing.
Those are LED lumens. OTF (Out the front is likely 165-175 lumens assuming 65-70% efficiency).
Also, tailcap measurements do not account for driver inefficiencies so you are not getting that at the LED.
It still seems pretty good though. I may order one because I’m a sucker for little AA lights.
Yup, OTF value be ~15% lesser. 65% efficiency will be really bad... 
You got me! I ordered one. Thanks for the review!
You are welcome.
+1. Remember to apply the coupon.
You might want to updated your findings if you no longer have mode change issues…
Just ordered a NW sample. Thanks for the excellent review, your picture of the light next to the 18650 is great for scale.
I love mine (incredibly compact). Obviously, I will only use with NiMH (Nitecore NL147 and Olight 14500, not fits ok) :
Trevi_lux, very nice collection! I plan to run only Imedion AA and maybe a L91 at times. Judging from your collection, the fact that you like it is high praise indeed 
. I really like SS lights. Looking forward to this lights arrival.
Body of DQG same width than EagTac d25a Ti (2013). Head is 1mm fatter.
Did you notice PWM? Thanks
No noticeable PWM in all three modes.
CW is 1A and NW is 4A tint bin. For some odd reason BG has listed those as current.
Conclusion
Coming Soon
Great review. great flashlight Any info on runtimes?
Please bare with me, review writing is rather time consuming task. I will try my best to wrap up this review by this weekend. 
I am measuring now. I will post the graph in next 48hrs.
That is a sweet looking litle light. I’m looking forward to the conclusion. Did you say how much the light is with the discount code? Maybe I missed it. Love the looks and the size. I also like that it always starts in low. That is definitely my preference for daily use. I like my Convoy S3 but it’s a little too big for EDC pocket carry IMO so my little i3s EOS remains my pocket light for now. Maybe this one could make the rotation. Thanks.
Wonderful minimalistic carry. I ordered a few more as gifts. I know a few trades people who will really appreciate this design. Taobao has the 90-CRI version in Ti and SS.
I just for mine. I’d call it pretty good but not awesome. The clip is flimsy and weak. The UI is weird. Resets to low after 50! Seconds. It stays on low unless you turn off and on quickly but then keeps advancing from medium to high to low otherwise. Weird.
Mine has not shown any of those issues. I cleaned all threads and applied Krytox 50/50 on the threads. Cleaned all PCB contact areas with Caig DeOxit. The PCB’s where pretty gunked up. I did not try any operations until after cleaning. The UI is standard L-M-H twist to change on my example. No problems, no mode skipping, flickering, preflash, etc… Smooth as silk twisting and easy, dependable mode changes.