This is a discussion of LED lights; if other readers have not tried a Cree LED, please research 'Fenix' here at BPL.
Justin, after the success with my Fenix Cree AAA I wanted to try similar lights using rechargeable C123 batteries (about 850mah) and AA (2,500mah) for longer run times. I wanted 5-mode lights so I could use full power, or drop down to low for long run times (still much brighter than an incandescent of the same weight).
Here's what I bought after comparing many models and reading the reviews:
5-Mode CR123A Rebel 0100 Flashlight $18.00
This is comparable in design to the Fenix Cree at $50+ but is not a Cree LED

5-Mode SSC 42180 Flashlight (AA)
http://www.dealextreme.com/details.dx/sku.4896
Of course, if money was no object I would have bought Fenix brand, for their superior quality reflectors, etc..
EDIT, the company was all smoke and mirrors. The charger arrived without the adapter and the flashlight was DOA. Their second rate MIC products and Q.A. process are krap. I should have bought another Fenix.