As you may have read, I am a flashaholic, and follow the candlepowerforums news.
There is a nice little light that has become quite popular. Tiny - it uses a single AAA cell.
At just $21.75, this is a bargain compared to other similar lights. I have had a Fenix LOD AAA light for a year and a half that I find indispensable.
With a good Cree module and effective current and voltage controls, these tiny lights are very bright, easily carried in your bluejean watch pocket, with multiiple power settings that can give you hours of useful light for most work on low.
This Maratac AAA is getting stellar reviews. It's a bit more than half the price of the Fenix AAA. See this thread - "Selfbuilt" is one of the best reviewers out there.
http://www.candlepowerforums.com/vb/showthread.php?t=240639The performance shown is better than similar lights costing considerably more. It also performs fairly well with regular alkaline AAA's, an indication of the efficiency of the circuit. It uses the latest Cree XP-E Q5 LED. I would recommend Energizer E2 lithium batteries, and these lights become quite the backup.
County Comm is a reliable seller. They do charge $8 S&H which is a bit steep. Order two.
http://countycomm.com/aaa.html