Re: Cheapest 1W luxeon light that runs on AA or AA
The CMG reactor is your cheapest option. You can get lithium AA's for $1.90 from batterystation.com, and you can also get the Reactor from them for $15. It uses 2 AA's. The lithium batteries should last for over 10 hours with nearly full brightness.
If you prefer to use rechargeables, I would suggest the CMG Reactor 3, which uses 3 AA's. You can get it for around $25 plus shipping. In fact, I'll sell you a slightly used one, like new, only about 3 months old, for $22 shipped via priority mail. This is the new version, and it does not have problems with the switch.
If you want to use alkalines, the Reactor 3 is good for at least 10 hours on a set of 3 batteries. The Reactor 3 beam is almost identical to an Arc LSL in every way.