I don't know about the Alpine Light, but I owned a Flight jacket for a little while and ended up selling it. Firstly, the medium Flight I owned (like all Western Mountaineering gear I've had a chance to weigh) was about 1-1.5 ounces over spec. The reason I sold it though was just because I didn't like the way it fit me. I tried on the large in the store and it was too billowy (felt like I was wearing an XXL shirt). The medium seemed fine at first, but as I used it it became clear that it didn't have enough lower back coverage for me to be comfortable. I like to tell people that ask me about it that it's a great lightweight jacket, but it's designed to fit like a sweater, not like a traditional jacket. The jacket itself is a very trail-worthy 3 season jacket to be sure. I'm no longer a fan of sewn-through baffle construction, but I'd say that the Flight jacket was definitely warm enough by itself down to the 40s, though that all depends on your metabolism and how you're going to use it. The insulated hand warmer pockets were a nice touch.
Personally, I prefer the Montbell Alpine jacket at the moment, due to its box-baffle construction and increased warmth. It does weigh 16 ounces, but compared to the actual weight of the Flight jacket (12oz), rather than the advertized weight, it's not that bad.