I picked one up yesterday and have been playing with it a bit. Rather than posting my thoughts, this review pretty much sums it up better than I could.

Mini Mag LED

I almost didn't buy one after reading the review, but I knew I wouldn't be satisfied until I actually tried it out for myself. It's a nice light, but there's nothing new or exciting about it compared to all the other lights on the market. I know the $25 price tag is a little steep for most people. It is quite a bit more expensive than their normal incandescent, but Maglite flashlights have always been competitively priced, the LED one is the same. When you compare the Mini mag LED to anything else in it's class, it's actually a really good price. Currently, I can't think of any other similar featured flashlight that is less than $35, in fact, a lot of them go for more than $50. I'm sure the price will drop as the technology gets cheaper. For now, I think it's a very nice light, I'll probably keep it instead of returning it.