Just went to the Fenix site, and got some specs

[color:"red"]Fenix Digital L2D CE[/color]

* Utilizes a Cree 7090 XR-E LED
* Two modes of output, selected by turning the bezel (patented)
[color:"yellow"]* General Mode: 9 lumens (55hrs) -> 40 lumens (10.5hrs) -> 80 lumens (4hrs) -> SOS
* Turbo Mode: 135 lumens (2.4hrs) -> Strobe[/color]
* Digitally Regulated for Constant Brightness
[color:"yellow"]* Uses two 1.5V AA ( Alkaline, NiMH, Lithium ) batteries (not included), inexpensive and widely available[/color]
* 14.7cm (L) x 2.1cm (D)
* Made of aircraft grade aluminum
* Durable Type III hard anodized finish
* 56-gram weight (excluding batteries)
* Water-resistant (dunkable)
* Toughened ultra clear glass lens with AR coating
* Push-button tail cap switch
* Capable of standing up securely on a flat surface to serve as a candle
* Batteries not included

[color:"red"]Fenix P3D CE[/color]

• Utilizes a Cree 7090 XR-E LED with a life of 50,000 hours
• Two modes of output, selected by turning the bezel
[color:"yellow"]• General Mode: 9 lumens (65hrs) -> 40 lumens (13hrs) -> 90 lumens (4.8hrs) -> SOS
• Turbo Mode: 160 lumens (1.8hrs) -> Strobe[/color]
• Digitally Regulated for Constant Brightness
• Low Battery Indication
[color:"yellow"]• Uses two CR123A battery (not included)[/color]
• 11.4cm (L) x 2.1cm (D)
• Made of aircraft grade aluminum
• Durable Type III hard anodized finish
• 49.2-gram weight (excluding batteries)
• Water-resistant (dunkable)
• Toughened ultra clear glass lens with AR coating
• Push-button tailcap switch
• Capable of standing up securely on a flat surface to serve as a candle
• Battery not included

Both are excellent but the performance enhancement from using CR123A lithium over AA alkaline can be seen above in terms of lumen and burn time. Here in Australia you can buy CR123A for around AUS$2 or under if you know where to look, and it has a shelf life of 10 years with loss of 5% performance per year at room temperature. I would get the P3D CE if you could get CR123A cheaply, if not the L2D CE. Both are great!

I would get both, LOL! Since you can buy both of them for the price of one comparable models the likes Blackhawk Nightops or Surefire...

Just my 2 cents.

Cheers,
Jack