Rating: 2 / 5
Pros: Light weight (1.9 oz w/lithium vs. my EOS—3.7 oz w/lithium), plenty of light (in white) for most activities, Red and white LEDs, Easy battery changes, Low cost.
Cons: Red LED should have a narrower and brighter beam for night walking, switch not as easy to use/find in the dark, switch should default to ‘off’ after using light—vs. going through all the options, only one red LED setting and 2 white LED settings. SEE 2011 UPDATE @ BOTTOM.
I would gladly pay more for an upgraded version (Byte II?): More efficient and brighter LEDs, Narrower beam for the Red LED, a better switch design w/o increasing the weight.
Note: If you ever have to hike in fog/mist at night, red light is a must—white light will limit your view (a red LED is also more efficient than a red lens over a white LED).
March 2011 UPDATE: Changed my rating from a 4 to a 2. Red LED way too underpowered and battery life is short. Much better (but a little heavier) is their Remix (white/red LED) headlamp. With the Remix you can actually night hike (on red) with it.