I've had a CMG Tracer for quite a while. It doesn't get used much, but it's not too bad. Brightness is about what you'd expect from two 5mm LEDs. It's just right for walking around and reading, but won't give much beyond maybe twenty feet. Seems to have good runtime, but I've never really tested it. Water resistance is bad, unfortunately, and the clickie switch is flakey. Gerber has another newer 1 AAA model called the Triode that may be a better choice now, but I've never seen a review of it.
Geoff