This is essentially the same as the Edelex II right-side up, but has the guts shifted to accommodate hanging the light from beneath a front rack or on a fork leg.
A marvel of German innovation and manufacturing, behold Schmidt's cute little dyno headlight.
It's been out for a few years, and before the Luxos or IQ-X, this was without question the best light to get. It comes down to looks really. Pay a little extra for the Schmidt. Or if you live in an area with salted roads the glass lens won't fog, so there's a reason.
From Peter White's site: "Like the original Edelux, the Edelux II uses a mirror that Schmidt buys from their friends at Busch & Müller. The original Edelux uses the Busch & Müller IQ-Tec mirror, introduced in 2007, and the Edelux II uses the new IQ Tec P mirror, introduced at Eurobike, August, 2013. This new mirror projects a much wider beam than does the original, about twice the width. Yet, with new brighter LEDs, the lux measurement is still higher. So the road ahead is not only illuminated with a much wider beam, it's also a bit brighter."