Okay, I've seen it now. Got a price of $375 from my GC rep and went by to pick it up. While I was waiting, I went back and played with the fixture a bit. The brightness looks pretty comparable to the older, incandescent version. The color is a very pure white light, somewhere between incandescent and the blueish-tint white we get from a lot of LED par cans. The iris is not circular, however. It's more of an octagon (for lack of a better description) where you can see the straight edges closing around the center. Not enough to make me not want the fixture but something I did notice. This obviously isn't as good as a true, high-powered spot but looks very good for typical mobile DJ applications such as what I've done in the past.
Now for the bummer part. I was buying this fixture for an event tomorrow. I have the incandescent version, but the gel wheel got jostled when the fixture took a nose dive off a 5-foot concrete loading dock last year. As it turns out though, they only had the demo unit and aren't allowed to sell it. Guess I've gotta go home and fix my old spot or we're going to doing the fake spot thing with a Source Four Jr. Zoom again.