I’m probably not 100% accurate on that but that’s my take on how it’s been explained to me and how I’ve seen it work in these lights.
While this M24 Sniper is a nice light, the SN6X-2X is even that much better. More solid, better ano still, just more of this quality. And my neighbor’s kid now has mine! 
Why oh why did I ever do something so stooopid! lol
You have to wait 5 whole seconds before turning the light on again for it to stay in the same mode.
My other Maxis are 2-3 seconds.
Bear in mind the Maxtoch M24s have been designed primarily as high performance hunter/outdoor lights. For this the return to hi mode is ideal as you are almost always engaged in long range spotlighting. The med mode also very useful with its approx 100k lux output. Lo mode perfect for shorter range eg possums.
We designed them as lightweight, high performance lights with good beam balance - combining both very long range hotspot plus beam spill for scanning large areas quickly. We also made them with tubes compatible with standard 25mm scope rings, and with good runtime.
Actually 2.5. I don't know why these new ones are different.
That’s mind-boggling!
So, does the same hold true of a single battery as it discharges? Say, for 4.2V to 4.0V - at 4.0V more current is being drawn out of the battery to supply the buck driver?
Is that how I make sense of the constant output (lumens vs. time) graph versus the battery drain (volts vs. time) graph?
Huh? If I wait for more than a couple of seconds, mine always comes back on in High.
BTW, since there is no moonlight mode (sigh), it doesn’t make any difference to me as to whether the M24 always turns on in High or in Low.
Personally, I would have liked one more mode - say somewhere between 2 to 5 lumens - but that’s just me. I can imagine others wanting a true sub-lumen ML mode and still others might want 5 modes.
As to the other end of the output scale, I have to admit that I am more than pleased with how bright the light is. I was one of the advocates for more amps to the driver. I don’t believe that I would have noticed a 5% or 10% increase in output by upping the power to 5 or even 6 amps. Good decision Robo819!
A single cell running through a constant current driver, I think, will display similar results… higher and higher current draw while maintaining current through the emitter. I’m not aware of a Buck driver on a single cell, but there are lights that run constant current algorythms, it makes sense that to keep the supply constant a lower voltage would have to have higher amperage to maintain that “curve” on a flat line.
Remember, I’m no electrical engineer and others here can probably explain it a lot better than me. I’ve only got a rudimentary grasp on it at best. And I forget things very easily, unfortunately. I’m sure I’ve heard all this explained in detail before, by several people, but well, my fishnet memory retains only the chunks that get hung up. lol
I managed a clean de-dome on the XP-L V6 1D, tint is actually nice, no green. Have yet to get a lux reading now but it should be up around 250Kcd… my testing range is occupied at the moment, will get back with some actual figures later today. 
Received mine today! So pleased. Logo ok, finish perfect, overall amazing flashlight.
My Keeppower 2600 protected are a perfect fit…maybe to perfect…width same as tube…
This light will probably be the first flashlight I will not take apart…. Probably…atleast for a while…at least for a short while
Thanks robo for all good work.
+1 on Dale's descriptions for the buck driver. Some are well regulated and will pull the watts it wants (watts = volts x amps), so for cells with lower resistance and higher Vf, less amps are pulled. I've seen this before, but like Dale, I'm no expert on this stuff.
Just got a lux measurement of 256.5Kcd for 1012.92M throw. Yep, works for me! 
Just found new XP-L HI V5 3B 5000-5300K on FT if someone is interested for upgrade
https://www.fasttech.com/products/1609/10009336/3849701-cree-xp-l-hi-v5-3b-460lm-5000-5300k-led-emitter
Uhh, you believe that? I don't. Think about it, XPL HI lose lumens output from the reduced dome, about 3 bins. To get a V5 bin rating from a HI, the LED itself would have to be equal to a V8 level XPL, or about equal to a XM-L2 U6 or so. Actually I opened a ticket on it and they said they are trying to contact the vendor... FT can't prove it - they are the retailer, and too often they trust in what their vendor/supplier says.
Thanks very much for organising this one, the torch I ordered arrived today, lettering is spot on, no dust in the lens that I can see. I have a pair of “blazar ncrga3500mah” batteries I bought for this that just fit in the tube, I gave it a quick test to make sure it works because these are just at storage voltage, the torch works great, I will charge the batteries and wrap the whole thing up ready for christmas day.
Dad is going to love this!
Mine has arrived and it is certainly a very powerful light.
Did a runtime test with Maxtoch 3100s (rebranded pana 3100s) and got 64 mins on continuous full power. This would be 70-75 mins with better 3400 batts. That’s good for an amped up light.
This compares favorably with the Olight M3X UT Javelot which offers similar output at 250k lux, but just 5-50 mins runtime (I think one person got 30 mins), and of course the Javelot steps down to just 700 lumens after 5 mins or so - not impressive for continuous spotlighting.
Maxtoch got quite hot in head area after one hour on high, quite a bit hotter than my normal amp dedomed M24 with U3.
Light meter not recording properly so no lux reading, but in all a helluva light for $58, and a very successful project.
Well done Robo.
Thanks for the run time test mudgripz.
Glad to see more satisfied owners also, keep the post coming guys interesting to know what runtimes and outputs and just overall satisfaction there is with this light.
lucky you, the tracking on mine is very meagre, it just says shipped overseas. That’s becoming weird because I have 2$ items from aliexpress that get tracked from (almost) the door of the warehouse to my house door. :*
Hopefully it won’t get lost in the 24-25 December delivering mess
Finally in my hands!
and I am loving it
perfectly centered emitter, spotless reflector, all extra accessories accounted.
Thanks Robo
Thanks Maxtorch
and thanks ARAMEX Courier for the lightning speed delivery (Compared to the usual Airmail, surface mail etc, etc)
I just tried the Panasonic NCR18650PF Protected 2900mAh and got 63 minutes of run time with those at 68F or 20C, the head was hot, but not so hot I couldn’t hold it for at least 10 or more seconds without it burning me.
The batteries were fully charged with 15 minutes of rest time before using them in the light.
Edit: Both cells were at 3.37 when the light shut off
Edit 2: Tried the LG HE4’s (High Drain 2500mAh) also at same temp as above, and had 54 minutes of run time when light shut off, cells were at 3.16 and 3.17
Also batteries were fully charged with 15 minutes of rest time before using them in the light.
Mine is dragging butt…