The more common Lithium D cells
TADRIAN are 3.6V (like the non-Energizer AA lithiums), also designed for low current draws, although they will do more than the AA sizes. About 20,000 mah capacity @ 5ma draw, 10,000mah @ 80ma. Maximum draw is about 250ma, but that reduces the life to something like a 2016 trying to power a Surefire E1
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And you are right, they are usually about 20-25 dollars each. Radio Shack occasionally has a sale on them for about eight dollars, but the ones they sell then are five years into their ten year shelf life.
SAFT makes a 3.0V nominal D (and C) sized cell, that allows a somewhat higher current draw.
HDS systems uses them in their $300+ "Action Light", and sells them for $19.00 each.
I don't know how they would work with the electronics in an ARC. I'm guessing not well with an LS, but they might run an AAA for about a month continuously if the circuit will take the 3.6Vin with no problems.