I decided to try out the Coghlan's Micro Lantern (model 842) today. It costs a little over $7 from most sources. I don't normally like lights than run on button cell batteries, but I gave this one a try. It runs on two CR2032 batteries, and puts out 3.5 lumens (uses one white 5mm Nichia LED) according to the package. It looks much brighter to me, and has a flashing mode if you need it. Everything is O-ring sealed, and it survived a shower. It feels tough enough for a sub-$10 light, but it's a tad too big for a keychain or zipper pull. It would go nice in a backpack or camping gear. I can read a book comfortably with the lantern about six feet away, and it's smaller than my thumb. I'll post photos as I can, but this is really handy little lantern. Anybody else have one?
The switch is on the side not marked. It's a simple rubber switch...
The first press turns the light on steady. Second press turns it on flash mode (about two pulses per second). Third press turns it off. You have to cycle through both modes to shut the light off.
The top comes off easily (there's a joke in there somewhere)...
The light will still work with the top removed...
The bottom. Unscrew to change batteries...
Unscrewed, batteries removed. You can also see that date of manufacture sticker (11/10) on the battery door...