By 'steady burn' I take it you mean constant-on (not flashing?), like a normal torch?
If it's for a life-vest then flashing is the international convention for distress so why not have both flashing and contant-on? Tektite retail larger strobes; some with switching options of both contant-on and flashing. They are rated to 150M depth and reasonably priced.
The Tektite 6 is about the size of your Princeton Eco, but is brighter at 10Watts, same price, runs on 2*CR123 and good to 150M depth if you want to use it diving. It is multi-funtion so unlike the Eco you can turn it constantly on or have it flashing for distress. You can buy a few different body covers; red, orange, clear etc and swap them around depending of where you take it.
http://www.tek-tite.com/proddetail.php?prod=TEKNA_Lite_6_Strobe&cat=10
I have a Tektite Strobe 300 which I carry in a BC pocket when night diving. It's much bigger than I think you are looking for.