I wound up getting an extra set of the 2003 TMNT, Kull, Conan, and LED Lion-O. All of them already arrived. Only opened Lion-O so far. He is indeed the same body as the deluxe figure but comes with more stuff and the neck peg lights up through two heads with translucent yellow eyes. The effect is really cool but the light shines a bit at the bottom of his head. Also, the heads still sit oddly low. But the paints are better than the deluxe. Was about $45, which I feel much better about than the full price of $65.
