I personally think that the KeyMate modded is a much under rated and overlooked light for the price for someone who doesn't mind buying the cells in bulk to have on hand and has the patience to replace them when needed. The SMJ is considerably brighter than the MJ, but for a non flashaholic, I doubt that they'd notice the difference. I'm guessing that what she likes about it is that it "looks" like a "real" flashlight, but in miniature.
The newest generation Photons (with the Nicha CS) won't be quite as bright, but are much smaller and lighter than the Keymate. There are mixed reviews about the Freedom - I have a couple and love them, but probably wouldn't recommend them for a non flashaholic for serious keychain carry, b/c they have a tendency to get turned on accidently. For that footprint, I'd choose the II or a clone with a Nicha CS.
You didn't mention my choice, so I will - an ARC AAA P. Very long running, uses a very common cell, type III annodize, very good general use brightness and beam pattern, smaller diameter than the Keymate and only >5/16" longer, and if you use a lithium AAA cell - it weighs almost half of what the Keymate weighs.
