I have a Pulsar I, as does my girlfriend, and my brother owns a Pulsar II (courtesy of me). I've had no problems with mine, and consider it the brightest of the coin cell lights I've tried (brighter than my Inova, and brighter than a friend's Photon, barely). Though it is a little harder to squeeze than the Photon, which may matter for people with less finger strength, especially those with arthritis, or of very small build. For example, my gf has trouble with hers for extended periods of time, but I do not. The switch on the II is very positive, and worth the extra few bucks, IMO. I like it's larger size over the Photon II, as it doesn't necessitate using a nail (in my experience).
I like mine. I think they're worth picking up on a deal, especially for gifts. Awhile back, Campmor in Paramus, NJ had some blue II's on sale, as they were cosmetic seconds. Don't know how many they have left now, as they were running out last time I was there, which was a few weeks ago.
Joe S.