I don't know about primary CR123 cells, but LiIon (not LiFe) 14500s usually have 2C discharge rating, so if the cell is 800mah you can discharge it at 1600. Do keep in mind that manufacturers often exaggerate with the numbers.
By the way: this should go in the batteries-and-electronics board.
oh dang ok. Thanks. Is that still better then a regular AA?