I know these are not news, but I recently bought some photo II's for myself and family members and I think they're awesome. I'm also aware of the cheap knockoffs which are available a fraction of the price and I have compared the two and I prefer the original.
Since I carry it on my keychain, weight is a main factor and the Photon II is hardly noticeable. I have tried Inova, Energizer and other various brands over the years, and I don't need strobe capability or cyclic modes. Plus, the Inova microlight has a clip system that I find awkward. The Energizer had too many modes and was quite bulky and heavy... While I'm at it, I will mention that I have retired the ITP A1 I was carrying because of its size and weight.