TWO HUNDRED DOLLARS?!!
I paid UKP 40 (about $70) for a Fenix P1D-CE when they first appeared. I can tell you I've parted with teeth more readily.
and how bright is 105 lumen 9p compared to a 2 AA cell maglight
If you haven't seen one before and you get an LED light with 105 lumens, the first time you turn it on you will laugh. And the next time. And a few times after that.
For $200 I would probably buy about 20 flashlights, starting with 10 keychain lights from dealextreme, and a bunch of rechargeable CR123s.
I'd probably still buy the P1D-CE. This is a classic at the price point and epitomises everything exciting in flashlight development today. It's tiny, it has a huge light output and more duration than any regular light that existed just a few years ago. If you really want a buzz get one of these or something like it.
There have been occasional quality issues with Fenix lights, but this is also true of more expensive lights. If you buy from a reputable source these issues will be fixed ok. In my experience cheap lights from dealextreme have worked well, and even they will respond to complaints although obviously with a time lag.
The really expensive lights are a bit like Leica cameras, very nice, but only for afficionados or professionals. There's a bit less engineering in a torch, I grant you.
w