I've owned several Tikkas over the past few years, and I have yet to find a reason to buy anything else. The design is spot on as far as functionality, reliability, convenience, and aesthetic. This one is no different. Picked it up on sale, and it's a good buy. I'd been using a Tikka 2 (not the plus), and it was on it's way out (and it was brown, not as cool as red). I decided this would be a good purchase, and for the most part, it is.
First, it's pretty bright. Enough for pretty much anything I use it for. Doing stuff around camp, climbing when it's starting to get a little dark, working on projects at home, etc. It's comfortable, the tilt mechanism works well, and it feels and looks solid. I pretty much only use the brightest setting.
However, the red light isn't that great. At least for me, I can't really see anything with the red light. Perhaps it's just my night vision, which I've never had problems with, but I think if Petzl is going to advertise a red LED, they need to do better than just putting the blinking light from your portable hard drive on here. It's pretty much useless in my opinion.
Overall, I'd love to give this 5 stars, and definitely would if there wasn't a red light, which doesn't really do much. It seems like an after-thought to me. If you really want a red light, go with the Tactikka, that works quite a bit better.