IKENDU, I agree, the Arc AAA is a winner for it's size, nice beam, and about 5-hour battery life. I EDC a Photon 3 on my keychain also...best light for its size, period. The Luxeon in the CMG Reactor is awesome in its power, but the pocket version of the luxeon(Arc LS) is SO pricey.
KODIAK, I hacksawed the CMG Reactor as that sucker was made NOT to ever come apart, unlike any other flashlight I've seen. It was fun to incorporate the Luxeon into a pocket light measuring only 2 7/8" X 3/4" in a squared-off clear lipstick tube. Sorry no closeup photo capability as yet, but I filed down the optic and headsink to slide into the tube, soldered battery contacts, and added a miniature push-button on the base of the lipstick tube. The top of the tube acts as a protective lens, and I covered the length of the tube with gold foil tape, making this one slick-looking pocket light. If I had purchased the LED/optic alone, the total cost of this super-bright pocket light would be under $25, a poor-man's Arc LS.
I'm into caving, and I would like to make a twin Luxeon head that articulates, along with an ON-LOW-HIGH-OFF switch to go with one or two beams. I would power it with AAX2 for 5-10 hours of peak brightness. Anybody know where one can get a tiny push-button SPDT switch???