I have been using alkaline's in my VIP, and Arc LS, both current regulated. One of my VIP's is set for three levels of light, 50mA's to led, 330 or so mA's, and 660, or so mA's to led. Runtime at the lowest power requirement, 50mA's to led is excellent, and also very good at 330mA's, though not spectacular, and is much better at that current using nimh's.
My Arc LS is set up for 250mA's to led, and runs 3 hours in full regulation with alkalines, and an hour longer using one CR123. NiMh's would improve runtime.
High drain applications do much better using nimh's when the light is regulated. Direct drive applications, or direct drive with a resister lights fare better, intensity, wise using alkaline's.
Bill