I'm probably pretty qualified to answer this, as I traded in my Lite Panel "flood" for the "spot."
It's a little better, but still WAY underpowered compared to the Anton Bauer cam-mounted HMI.
Nice soft light - just not enough of it. And if you have to throw a gel in front of the (daylight balanced) Lite Panel to correct for Tungsten, well, you get the idea.
If I had to choose between the flood and the spot, I'd get the spot, as you can widen the beam a bit with the diffusion filter provided.
It's a nice little tool, but expensive, and very limited in what it can do.
I'd recommend the flood; especially for on camera use and as a hidden light. I use mine all the time on camera and would worry that the spot pattern would be revealed in hand held applications. I've also used it in product photography where again the spot pattern would be too narrow.
Obviously if price were no object, I'd add a spot unit to the kit, but probably not until I added a second flood! JMHO.