There is nothing particularly amazing about it from what I can tell.
Its an XP-E that is fully driven to 1 amp or more.
My old itp A1 EOS with a RCR123 (4.2 volts) provides 280ish rated lumens thanks to being slightly overdriven. It has 3 modes and costs a whopping 25 bucks. But you need the 1xRCR123 for full capability and its tiny size doenst make it practical as a true worklight.
Any XP-G light at 1 amp or close to it will provide the same rated light output. You can probalby get a 3xAAA light that is similar, or an 1x18650 light or 2xCR123 light.
Deal extreme will be the cheapest route, but a bit risky.
A Romisen from shiningbeam would be a good choice since they customize them with good emitters.
Heres a 25 dollar one that is the closest match. 2xCR123.
http://www.shiningbeam.com/servlet/the-218/Romisen-RC-dsh-2R4-II-R5/Detail
This one is nice too. 1xcr123 OR 2xAA (with extension tube)
http://www.shiningbeam.com/servlet/the-214/Romisen-RC-dsh-N3-II-CREE/Detail
The only problem is that you only get 2 brightness levels. However the next step up is a Fenix or a 4Seven quark which is 60+ dollars. So for you, I'd recommend the romisen.
Another alternative is a flood to throw 3xAAA light/18650 that shiningbeam sells. Less overall brightness but the flood to throw is incredibly cool and useful.