Just got mine. A few notes:
The light can be charged on 9 volt batteries according to LRI customer service.
It seems plenty bright for night hiking, but I have not given it a fair test yet.
There is an unfavorable review (short runtime) at the bottom of this page: http://www.photonlight.com/Photon-ReX-Keychain-LED-Flashlights-p/rex-lithium-ion-rechargeable.htm
My brand new light will not recharge unless you press on the magnet points fairly hard. I contacted LRI and they told me that I would have to send the light back for repair or replacement and that they would not send me a replacement in the meantime. Not a great start!
There is, at this time no clip to attach the light to a hat like there is with the Photon Freedom. There may be an elastic strap coming out to use the light as a head lamp.
With the few minuses, I can still see this being my favorite backpacking light.