I recently became interested in lights with Regulated output.
I bough an Emisar D2 and a Sofirn SC21 Mini, and compared them to a Zebralight and an SC21 Pro.
Here is the D2 compared to a Zebralight H53Fc N (both using 14500):
The D2 uses much less Output Modulation Depth, has a Much lower flicker index, and a Much flatter output curve than the Zebra
Another light I bought for the regulated output is the Sofirn SC21 Mini… shown here compared to the Sofirn SC21 Pro (both using 16340)
Notice the much lower Output Modulation Depth of the SC21, with lower flicker index, and flatter output curve. The SC21 is very well regulated, with the exception of the output range between 6-10 lumens, although even then the Flicker Index of the Mini is lower (better) than the Pro.