I have now had this flashlight for 10 months and boy, what a torch. I bought the "Laserware" version (which has a 50W bulb) and it's EXCEPTIONALLY bright - by far the brightest torch I have ever seen. Pointing it into a sky produces a thick beam when it's pitch black, and I reckon it lights up something close to a mile in front of you.
Build quality is excellent. It's quite a heavy torch and it gets very hot at the end, so I definitely wouldn't recommend as a kid's torch. You've also got to be very careful where you point the beam, as it could probably dazzle people a few hundred yards away.
The torch's eletricals are made up of two main components - the bulb unit, including a "ballast", and the battery. Bulbs are quite expensive - about £35-£40 or so - but these also include a new ballast, so you're effecting renewing half of the electronics inside the torch whenever you buy a new bulb. I haven't needed to replace mine yet, but I purchased one directly from the supplier so I'm not caught out if this one goes.
All in all, a high-end piece of equipment for those who need as much light as they can from a torch. A lot of money but, in my opinion, still excellent value.