They are not obsolete because they are good lights for lower light purposes, they are not that bright. I actually like that they are AA, and not AAA as there are many options in the AAA format.
I like the GEU in Red as well, again because it is decent and AA format cell.
For a lower priced AAA light I would recomend the Streamlight Microstream. The forward clicky makes it very easy to use and it is very bright compared to a Gerber or E01. Good looking light too.
I think a better party Favor though might be the Streamlight Nano-Light. Fun, very small, very cool, and have more of a party flavor to them. They can be gotten local quite cheaply, Lighthound for one has them at a great price. The downside is they use 3 button cells... but hey it's a party!!
You could go for a tri-color Photon, but I'm not sure where to get those right now... they say "PARTY" as they cycle through their colors.
Party On!