Pros: Remembers the modes, which is useful.
Mode changing is precise, so easy to change.
Uses the 7135 chips, so you connect to additional 7135 boards for P7 or MCE driving.
Fits nicely in my P60 prop-ins.

Cons: Hard to solder wires and components quite close to the edge of the board.

Other Thoughts: The option of adding another 7135 (like SKU.7612) would be nice.
SKU.7612 makes a good alternative, but if you don't need simpler modes and the option of an additional 7135 then this is quite adequate.

Bottomline: For the price difference I'll probably buy SKU.7612 in future, but I don't have any problems with this one.

Pros: Nice form factor, great price. It makes a handy driver board for playing with 3 watt white LEDs or RGBs ( 350mA per channel ).

Cons: The hand soldering is a little shaky on the boards that I have. In a lot of 5 boards, I have 2 of one type and 3 of another. Fortunately, the parts are common to both.
No leads on most of them but easy to figure out.

Other Thoughts: It's not a board I would place a lot of dependence on but it's ok for flashlights to wander the back yard with. The 12F629 I/O port is being grossly overdriven but seems to survive in the examples I have. It's an inexpensive design and does what it claims.

Bottomline: Good price for a basic board.

Pros: Nice quality board and works perfectly.
Memory works fine - but memory could of course be a cons depending on your preference.

Cons: As others said it's a bit tricky to find where to solder the connections to the LED. Take a look at the datasheet for AMC7135 and it should be easy to figure out and use a multimeter to track PCB tracks to a suitable solder point. A little paper to tell where to solder would be useful.
No big cons however since you're probably a tech geek if buying this anyway.

Other Thoughts: I used this in the direct drive "Led Lenser copy" - sku.16606. A very nice upgrade!
Does however limit current a little since no regulator can be zero drop and direct drive pull something about 7-800 mA from AAA eneloops but with this board it's something like 5-600 mA (because it has no boost circuitry). No big deal however and batteries will last a little longer on one charge - still very bright.
Might pull full 1 A with lithiums because of their higher voltage but haven't tried.

Bottomline: Very nice driver to upgrade a direct drive light to modes or use it in a suitable light if the original board has died.
Don't let the 1 A rating scare you if upgrading a direct drive since it can only pull as much as before and most likely a little less.

Pros: It does deliver close to 1 amp to the LED when the 18650 is fully charged. The current and brightness does drop off as the voltage drops but still a good improvement over the stock driver.

Cons: Now about the so called cutoff of this board: It starts flashing about 1hz when the voltage drops to 2.7 but it does not cutoff at 2.6v like advertised. I ran the cell down to 2.5 just to be certain. It should be marketed as a low voltage warning and not a low voltage cutoff. In any case this is definitely better than nothing at all. I can now use my free unprotected laptop 18650 cells in my torch!

Other Thoughts: Get really small solder gun tips if you want to work with these small boards. It's a real pain with regular size tips.

Bottomline: Bottom line: I can now use my sku 11119 with unprotected 18650 cells. It's brighter than the stock driver too! I recommend this board but I wish it had a true 2.7v cutoff.