The magazine disconnect safety feature is what prevents the mags from dropping out, not intentionally, but as a consequence of the design. If you want them to just drop, bypass the mag disconnect latch by removing it or use one of the special mags or baseplates as mentioned.
I also just got one of the lites a few days ago. It's not the shiny one, but it's new. I wasn't as lucky as you. While all the functions are very smooth for an out-of-the-box 22/45, after shooting through about a dozen mags, I had a problem which required the trigger to be pulled twice for the first shot from each fresh magazine. Very strange. I called Ruger and they said to send it in for them to check out at their cost. It was strange, because after I got off the phone with them, the problem seemed to have gone away.