What can you do? BURN BABY BURN!!! (lol sorry, little bit of a pyro streak bubbling up)
but a 75mw can cut electrical tape and pop baloons, focused it can also light matches and possibly other dark materials. the more pwoerful (higher MW) the more damage it can do (if you want to see a NICE laser, look down below on this forum for the tread about the Hercules 400mw!)
Also, jsut FYI: a "laser pointer" is <5mw, anything >5mw is a "laser device" or a "laser module" as per FDA regulations. Also, these regulations require a crapload of safty features that make it a chore to opperate most "legal" lasers if you dont 'bypass' the features (not knocking them, great to have these features in a home with kids or very irresponcible adults, but some of us would prefer not to have to spend 5 minutes 'unlocking' our lasers before we can use them)
Also ebaysers tend to have no IR filter, so they're HIGHLY dangerous, and also FAR overrated (a "75mw" may only put out <20mw of green and 55mw of uselss, dangerous, IR) so be *very* careful where you buy your laser from.
If you want a good deal and dont mind adding your own IR filter, DealExtreme has a nice 100mw greenie for $100 dollars. should more than suit your needs.
EDIT:
NiMH batteries are fine, but most lasers WILL NOT use LiIon's without riskign damage (voltage diff, 1.5X2 = 3, 1.7(liion (I think))x2 = 3.4)