Yeah, hate it when that happens to your blub.
To get on topic, I'll chime in with the others and say yes - the Arc AAA is, in my opinion, just about the best small light you can carry on a keyring. I've been carrying one on my keyring for almost a year now, and its been great. Good, bright light, and very robust. Waterproofness is great too - last Summer I gave a couple of Arc AAAs to my nieces to play with in the pool at night, and they had a great time, throwing the lights around the pool and so on. Never a problem.
Well worth the money, in my opinion.
Graham