The answer is to use 6 NiMH cells in series and don't try to insert any kind of regulator in the way. Using 8 NiMH cells will give you no advantage in run time or power unless you use a very sophisticated bucking voltage regulator. There is almost no point in trying to do this.
Finally, now we are getting somewhere. Well Mr. Happy, that arrangement was tried and resistance was such that the light drew too much current and went into thermal shutdown. (that's a guess - the light quit)
At the time the light quit -it was drawing 8.1V at .86A. Hence my assumption regarding its own circuitry. Besides, part of the rational for the eight cell pack over six cells was extended run time. Using six cells will deliver a little over two hours of power - not enough to warrant the modding.
By the way a 6AASx2P was tried with similar "lights out" results. I added a couple of 1ohm resistors and fried them - but the light stayed on longer, and I don't have 5watt resistors right now. Hence questions about getting the right stuff the first time.
I've already ruined one really nice light, so I'd like to get this "right" the first time if I can. My custom branded Li Ion packs are both over a year old and being able to rotate in another AA battery source while their run times deteriorate is of some use. Of course by next year I'll chuck out more bucks for a new Li Ion pack.
Like I said I know of two "web builds" one using a single diode and resistor, the other using two transistors and two resistors. I guess should try the "dumb circuit" and see how much efficiency is lost. For all I know, there is probably a single IC that could handle these parameters. 9.6 to 7.4 isn't a big stretch.
Thanks for your attention, any comments are appreciated. I figure there are two dozen builders on these forums who have already
applied and or studied these kinds of circuits.
On the other maybe I should buy a Fenix TK40 and forget it. Oh wait, I just remembered my wife said something that.