It is awesome!
It's much smaller than I thought it would be.
It is perfect for keychains.
I am very impressed with how this light has been designed from the amount of friction to turn on the light to the size of the clip.
AWESOME!

The light pattern on the wall is PERFECT. I have a lot of flashlights and I spend a lot of time on flashlight forums, so I have seen plenty of beam patterns as projected on the wall, etc.
It has a huge flood, but the focused part of the beam in the middle is very strong. It has a perfect balance between throw and wide beam.

It is quite a bit brighter than the Photon Freedom lights I have with fresh batteries.
However, I don't think the PICO light is even close to 10 lumens.
I have several other lights that have regulated output. Several of them are made my fenix.
The 9 lumen setting on my Fenix lights is MUCH brighter than the PICO light.
That's fine with me.

The price that was set for this product is proper. So many companies set prices high and then stop producing or refining a product because sales volume isn't sufficient. The sales volume at $9.95 will be sufficient. Smart call.