Humm, hours of runtime, small enough to carry, used often, bright, the only thing missing is price range and how far the light needs to project.
Just to get you started, how about the
WF-400 with two
18650 batteries and
charger. $41.36 USD which is a little less then 21 pound. Or the
VB-16 with 2 RCR123 and charger($37.50 USD, 19 pound) . The two lights should not throw as far or have more overall output as the "1million cp" lantern but they are smaller.
The reason why Dealextreme is cheap is because, IIRC, they don't have a warehouse, what come in goes out and nothing is kept for very long. Their products aren't the best quality(compared to other known company) but most lights above $20 are pretty good for the price. Some of their lights are total crap but others are built very well. Some of their lights can be used to hammer things and still work fine while others will literally break in your hand(depends on company and model of light and Luck of the draw).
On Dealextreme, Ultrafire, MTE, EastwardYJ are usually, for the price, pretty good with quality. I don't think Dealextreme sells returned or second hand lights. From what I have seen, Dealextreme sometimes contact their suppliers and tell them of what the customer want and improve their products.
Lightreviews has reviewed some of Dealextreme's lights.
Also, most products on Dealextreme have copied something or another form another company, thus reducing R&D(and product) cost dramatically.
In short, most of Dealextreme's have the performance to compare with more expensive lights, but they lack the customer service and the quality of more expensive lights. For the price most are good tools.