As a general matter, I'll go for a NexGen over a BadBoy any day. I only use the BadBoy converter when I have to. That's not the say that the BadBoy isn't a great little converter. I just think that the NexGen is better.
The NexGen is more efficient. I hate to keep harping on this, but heat is an important factor to me, and the NexGen generates much less heat than the BadBoy does. Having to contend with the heat that the luxeon generates is enough without having to worry about the converter too.
I'd go with the NexGen even IF it flickered. In most cases, you don't notice the flickering in real use. What I usually do to avoid the flickering is to just use 10 ohms of resistance, rather than 15 ohms.
I also like the Aleph I head better than the Aleph III head in an EDC. I find the III to be a bit bulky for my taste, but then again, I carry my light in the inside pocket of my suit. The Aleph III does throw better, but in practical terms, the Aleph I just serves me better. The beam isn't as narrow as that of the Aleph III and it covers a bigger area. I very rarely find myself NEEDING more throw. I can't see as far as an Aleph III will throw.
To tell you the truth, I could probably give a more definite answer if I knew what you meant by "at a distance."
In the pitch dark and outdoors, you'd be surprised at how well an Aleph II will perform running at about 500mA with a nice warm luxeon. Say a TX1J, for example.
I sold a pair of Alephs to a friend of mine. One was an Aleph II as described above. The other was an Aleph III with a DB917/TX1J light engine. After taking both on a week long hunting trip, he commented on how handy the Aleph II was in the woods. He said that he used the Aleph II most of the time and only used the Aleph III at times when he wanted to check a plot that was 200 paces from his stand. He even used the Aleph II as a head light on his 4 wheeler to navigate his way though the woods.
I realize that I probably muddied the waters a bit, but all of the Alephs have their place. Among them, I think the Aleph II is the most useful.
Of course, you could always just get an Aleph II and order an extra Aleph III head for the light for those times when you anticipate needing reach.
As for the light engine, I'm not really sure of what your NEEDS are. I know that I like the single cell bodies. They make for really cool looking lights and are handy, but if you can live with a longer light, you might want to consider a downboy500 based light engine. I think that runtime is like 4 hours on high and a really long time on low.
If you do get a single cell light with a boost converter and want to run li-ion cells with it, you should do one of two things.
First, go with a bias of over 700mA if you are going with a J Vf luxeon.
Second, if you go with a K Vf luxeon, then you should be OK with just about any bias. The NexGen converter will allow for about .7v overhead.