Okay, I got to try the Gen3 light for the first time today so here is my report.

First, I got the digital version. Not sure about the difference between it and the analog one - other than having more modes - but I think the digital circuitry is what lets it stay at full brightness as long as there is enough power to do so. Once there isn't enough, it drops all the way down to 3% or 10% (I think 3% on steady and 10% on flashing). However, if you were running at 100% power when that happens, you could then cycle to 75% or 50%, whatever, and it will maintain that level until unable to do so - then drop to 3% or 10%.

If they are still on sale, pay attention to the options. I noticed that you can get it from $99, including the adapter (plus shipping). But, strangely enough, you can get all that PLUS a pretty nice tailight (3 settings) for exactly the same price! That's what I got even though I already have two tail lights (I use one on the back of the storage pouch on the bike and one on my helmet). The reason I do this is because seeing other riders, a rider with two lights was always much more noticeable AND, if one of them goes dim during a ride, the other is probably fine still.

The lights came with batteries - the Gen3 came with what seem to be pretty nice rechargeables (2000 mA).

I compared brightness with the Cateye 500 and the Cateye 400 (the little one I got as an emergency replacement when the mount on the 500 broke).

It is, of course, far brighter than the 400 (it only useds 3 AAA batteries). But inside, I wasn't so sure about the 500. I think the reason was that the 500 gives a broader beam so it makes the area look brighter. But when I took the Gen3 out on the road today, I felt it was a bit brighter. Both use 4 AA batteries. The somewhat more restricted beam is no problem - it is plenty wide enough to light your way and I could aim it a bit higher to get better distance since it is brighter. Nevertheless, I wouldn't say the difference is major and the Gen3 does cost a lot more, even on sale. But, assuming the mount lasts, it will be cheaper overall since the cateye mounts on the light keeps breaking.

I'm not real thrilled about the power switch. The light has 6 power modes (steady) and 5 other ones for flashing. But there are two pretty noteworthy problems.

1. To switch between steady and flashing modes, you have to hold the button down for awhile (5 seconds?). Then you have to cycle to the flashing mode you want. You repeat the process to switch back. When you switch to flashing, it seems to always go to the 10% setting so if you want more light, you have to cycle to what you want. If you switch from flashing to steady, it just turns off and you have to cycle to what you want.

2. The other problem has a lot of impact, especially if switching from flashing to steady and needing a lot of light. First, since it first turns off, you better do this before you are in a really dark area. Second, if you need full power, you have to press it AT LEAST 6 times to get there. I say "at least" because sometimes it seems that pressing it has no effect while other times it reacts fine. Perhaps there is a specific way to press it to get consistent results, but I haven't had time to do more than very preliminary testing without finding success.

Personally, I think they should have at least two buttons. One could be used to switch between steady and flash and when you switch, it should revert to whatever brightness it last had, in my opinion.

According to the instructions, alkaline and rechargeables last the same amount of time in steady mode at 100% and 75% (5 hrs and 6.5 hrs). At levels from 50% and lower, alkalines are listed as being longer. Of course, rechargeables keep increasing their capacity so that will have an effect.

Anyway, I'm happy with the light so far. Just hope I have no problems with mounts breaking!