from their website:
"This dropin produces a real 240(measured out the front) lumens in a 2D light with alkaline batteries." I would guess that means it would put out around 300 L from the emitter. Emitter lumens are wht most people tend to talk about since they are easier to calculate (and higher so it looks more powerful).
I did a 2D mag into an XM-L powered by 6 AA batteries, I like it quite a bit. But doubleing your price budget seems a little much.
http://www.candlepowerforums.com/vb/showthread.php?319319-2D-mag-modded-to-6AA-XM-L
There are better guides that skip less steps for most of the general mag moding stuff than that, but that is my experience.
Some one did a nice mod to a 2D where you put 3C cells in it, otherwise teh same effect as mine but different batter useage.
What is teh serial lnumber on your maglite? It can be found onthe side near the switch.