Figured I'd update this for posterity. I pulled the trigger on two of the Pool Tone lights and installed the first one yesterday. Build quality looks good. It's all SMD LEDs as opposed to the thru-hole mount BulbWizards LEDs I'm replacing. The Pool Tone is significantly brighter than the three-year-old BulbWizard that I have. It's hard to compare an RGB LED to a 300 watt incandescent bulb but I'm very happy with the brightness level. In the pic, the new light is on the right, old one on the left in the deep end. Sorry for the grungy deck - I haven't power washed yet!
The Pool Tone comes with 16/3 wire, as opposed to the 12/3 (?) on the old Amerlite. It was very easy to pull through the conduit to my junction box. I'll try to update this thread with reliability and ongoing brightness.