IMHO, a single AAA LED peak light is about half as bright as an ARC-AAA. I have the Peak 1AA 3 LED model as well, and while it's brighter than my ARC-AAA, it has VERY little spill light, compared to the ARC-AAA. The recessed LED's project a much tighter beam than the ARC-AAA, which provides much useful spill light from it's reflector, as well as it's more open single LED.
In short, I don't like either Peak light, compared to an ARC-AAA. The 3 LED Peak light would be more useful in an outdoor setting, perhaps, where it's significanly better throw would be an advantage over the ARC-AAA. But outdoors, I simply use a much brighter light than what my 3 LED 1AA Peak produces.
So in this case, my advice, for what it's worth, is if you have an ARC-AAA, and you EDC another brighter light, don't get either Peak light. You may be dissapointed, as I was. YMMV, of course. /ubbthreads/images/graemlins/icon15.gif