The average voltage of a NiMH cell under 2-3A load is about 1.1V. Isn't 3.3V (3AA) too low for a 3W white led? I know it would light up but nowhere near it's maximum brightness.
As for the driver, I have decided to go with the
http://www.dealextreme.com/details.dx/sku.3256 after receiving a very informative info from the DX user isotco with the Iout for my Vin range:
Uin 4.0 Iin 0.88 Iout 0.88
Uin 4.1 Iin 1.02 Iout 1.02
Uin 4.2 Iin 0.83 Iout 0.87
Uin 4.3 Iin 0.85 Iout 0.90
Uin 4.4 Iin 0.77 Iout 0.86
Uin 4.5 Iin 0.76 Iout 0.87
Uin 4.6 Iin 0.76 Iout 0.89
Uin 4.7 Iin 0.75 Iout 0.89
Uin 4.8 Iin 0.75 Iout 0.90
Uin 4.9 Iin 0.75 Iout 0.92
Uin 5.0 Iin 0.75 Iout 0.94
Uin 5.1 Iin 0.73 Iout 0.90
Uin 5.2 Iin 0.74 Iout 0.95
Uin 5.3 Iin 0.73 Iout 0.95
So, the Iout is almost as good as the AMC board but with a significantly higher efficiency.