Arc LSHF-P with 2AA TSP
Rechargable AAs with close to 3 hour runtime.
Runs fine with alkaline or lithium AAs as well. Alkalines seem to give a much longer moon mode.
Small enough to fit in my pocket, more comfortable to use then smaller lights.
Waterproof, mainly helps when I feel like washing the outside of the light, other then that it's just nice to have.
Light output more than enough for the vast majority of my flashlight needs.
Pretty much all hotspot, all the light goes right where you want it. Beam is pretty even with some minor shadows. Nice and white when it's the only luxeon in use, green tint sometimes. I find it useful for both up close and medium distances (50 feet or so).
Durable, already tossed mine onto the road /ubbthreads/images/graemlins/rant.gif from about 3- 3 1/2 feet. Has 2 dents now but no serious harm.
Regulated for flat output /ubbthreads/images/graemlins/smile.gif.
Very nice knurling.
Almost forgot, I much prefer the color of white luxeons to incandescant.
Downsides for me:
Kroll switch, hasn't failed me just likes to flicker every now and again.
A little too skinny for my liking with the 2AA battery pack. A 2x123 or 4xAA battery pack would be /ubbthreads/images/graemlins/buttrock.gif.