Just to satisfy my own curiousity, I installed a TerraLUX TLE-10 led module in one of my AA-MiniMags this morning. Has absolutely no light out the sides, so one would need to use the ceiling as a reflector to get any area lighting.

As for the TLE-10 otherwise: meh. It was brighter than with the incandescent bulb, but with a bluish beam with some green around the fringe. This is a single led module with included reflector, so one can still rotate the bezel and focus the beam. And runtime is supposedly over 10 hours with alkaline batteries.

As I said before, I may just leave this one incandescent for the candle mode (I carry an Inova X1 in the same bag with a Princeton Tec Pulsar II clipped to the outside). Still waiting for Fenix to offer the L2P in some other color than... black.