The original 2AA MagLEDs had the problem of "dropping dead" when the batteries went below a certain voltage. Other than that, they were perfectly capable utility lights; I still run mine with two pair of old NiMHs that charge off the solar panels.

The 3AA MagLEDs never had the drop-dead problem, though their size makes them a bit awkward.

The second generation 2AA MagLEDs don't drop dead either. But I don't find them quite as bright, the beam is not as good, and the multiple modes are a pain. If they had stayed with high/low I'd be more positive.

I still like the AA MagLEDs for their candle/lantern mode. It's kinda sweet to turn a belt light into a nice little lantern in a cabin or campsite; plus it wows people who haven't seen that before. I have yet to find their equal in that regard.