This looks interesting. It's half the size and weight of my Jetbeam RRT-3 and has over three times the light output, and has a well-designed-looking pocket/belt clip. I actually don't consider "all modes controlled by a single button" a feature, though, because that usually means you have to memorize complex series of button presses, half-presses and holds to get to the mode you want, whereas the RRT-3's magnetic control ring is brilliant and stupidly easy to use.
The big problem with one-button-does-everything control schemes is that all too often, the one button does the wrong thing because you didn't manipulate it quite right. I have a Notecore P18, and I love the light itself — it's small, light, bright, easily clippable, and doesn't roll — but dear gods, I hate its control button. I can rarely get it to do what I meant on the first try — sometimes not at all. Currently it won't acknowledge full-press, only half-press. I end up carrying my RRT-26 Raptor as well because the Raptor's controls (featuring that JetBeam magnetic control ring again) work.
I'm interested in this light, but I'd be a lot more interested if it had a magnetic slide control or a separate brightness control instead of one-button-does-everything. I'd also be more interested if it charged via USB instead of a 12V vampire, but I imagine Nitecore went with the 12V 1A charger to make the charge time on that 12400mAh battery reasonable. However, Nick Shabazz's review is outright alarming. I wouldn't want this flashlight getting accidentally activated in my pocket, and since the power switch is not recessed, that seems to be scarily easy.
If that doesn't bother you, the Drop price seems to be about $30-$50 below current average retail.