Huffy, I have been looking at the X21 as well but haven't been able to bring myself to pay those dollars just yet...I'm not sure if I would buy it from Australia though as you can get it for about half the price from the US (There's another thread about it on this site)however its called a Coast X7 Led Lenser or something like that in the US and can be found on US Ebay.
From memory the X21 has focusable light which I think is a fairly big plus over similar lights that don't...I also actually like the fact that it takes 4D batteries over the rechargable option as when camping and spotlighting if I run it down i can just replace with some spare one's but with the advertised 300 hrs runtime (probably on low power) I can't see them running out in the one trip anyway.
If you get one, pls post a quick review...I would be very interested to hear about it!!
Cheers,
Simon