I bought several of these on that sale. You're right, mp510 -- the Cabelas Alaska Guides (CAGs) are hybrids, with a Xenon bulb and 3 LEDs, in the same form factor as my SureFire A2, at about 1/4 the price. Accordingly, I can afford to keep one in every pack and briefcase.
The switch is the only thing I don't like about it. It's a push button switch that cycles between Off-LED-Off-Bulb. That means that there's a 50% chance that I'll turn on the bulb first, then have to hit it again for the LED. I purchased one of them with red LEDs to protect my night vision, so when I get the bright white bulb first, I've just blown it. Additionally, I know that one of the most stressful times for the bulb is at turn on, so I'm bummed that I'm aging the bulb everytime I want to use the LEDs but hit the bulb first. My SF Aviator lets me choose LED first, then bulb if I want it.
Other than that, I like the CAG. It seems to be robustly built -- time will tell.