In reply to Carless:
I actually have one of each type
Original with elastic strap and plastic case
Original with zipka style kevlar cord (I've also had a Zipka!)
Current with the elastic strap and plastic case
The plastic case is useful for protecting the light when it's in your bag, can also hold spare batteries in it. The elastic strap also has a whistle on the cord adjuster. But the kevlar cord version is my preferred one, it's smaller. I put a little tritium vial on the puller so I can find it in the dark as it's so small it's easy to lose
I dot them around in various places as the shelf life of the batteries is handy. I've not found the ball joint to be a problem at all. They aren't particularly bright though
But for normal day to day use, I use a Petzl Bindi, which is brighter, similarly sized and rechargeable. Or a bigger 18650 powered light