After 3 weeks of use, and a couple of charges, my bastid has had no issues whatever. I'm very pleased with it, seems to be well worth the money they're asking for it. Hope your replacement unit works OK spangels, I reckon you won't be disappointed when you get the bastid going. Good to see DX seem to have treated you fairly and been prompt with a replacement I was a bit wary as to how good their customer service would be.
I agree with Solo's comments re. dirt cheap chinese imports being impossible to compete with, from what I've seen (on STW and his website -never seen a real life one!) Trout's lights are fantastic. When I can afford it I will get one, (I like the look of the 3 LED "mk2" 
)and a battery pack off Smudge. But theres the thing, at the moment I couldn't afford it. When my aging -and cr@p- cateye halogens with their giant lead battery finally died I had to get new lights and the bastid was in my budget.
Its much the same as I would dearly love to own a handcrafted Ti hardtail, I can't afford it so I ride a steel frame that was made in Taiwan.
I don't own a P7 torch so couldn't compare the bastid to it, when I had a ride with someone who had a P7 in a fenix mount on his bars he had problems with it slipping. The bastid is solid on its O ring mount (both sizes of O ring with mine were black BTW) I've done some very steep and rocky stuff with mine on and it doesnt rattle or slip at all-even stayed put during a few minor, and one major, crash- bloody thing is so bright it eggs you on too fast in the woods at night!.
Can't really see the point in replacing a properly mounted P7 torch with a bastid, maybe better run times, but then I would carry a spare cell or get a battery pack off smudge and wire that to the torch if that's an issue. A good torch is obviously more useful than a dedicated bike light. If you've already got a decent torch and you say you've got 2(?) L2D's Singletracksurfer then I would go for the bastid. It's mightily impressive.
