What I would do with that much light is illuminate large outdoor areas -- not as big as a field, but certainly as big as a picnic pavilion or a 20-space parking lot. I already have plenty of lights I can use to light up things close to me; what I want now is a tiny sun. I can't use ceiling bounce to get really bright, smooth illumination when I'm outside.
I've got a good old SureFire M6 for that. It lights up a baseball field like nothing else, is still pretty portable and costs a fortune to operate

With a little search these M6's can be gotten at good prices, so it shouldn't have to be too expensive in acquiring. IMHO incan's still have specific uses where no Led can go. yet.
Until the Nichia 083Z gets around the corner and melts down with out a whopping 500lumens output, the M6 is my choice for portable sun.
I'm not sure a sundrop, in what ever version, is the light for lighting up a car park to watch any bad guys hiding.
http://www.cree.com/products/pdf/XLampMC-E.pdf
page two says it put's out 430lm @350mAh. I would say that @700mAh it could generate some 730 lumens. But that's not what you would get out of your sundrop. And I would be afraid that the light is not able to dissipate the 9 watts of heat that is generated, so the led could degenerate quickly. And the current sundrop light engine as well the GDuP can't put out much more than 700mAh and the other converters I know of that can deliver 1.5Ah just doesn't have levels.
http://theledguy.chainreactionweb.com/product_info.php?cPath=48_49_61&products_id=1244
that's 3Ah at your request
with some extra explanation
http://www.candlepowerforums.com/vb/showthread.php?t=211599
But it's a step down converter and you would need at least 6V in to get 3.48V & 10.9W out..
I think that would suck the life out of 2x123's in under 30 minutes?
So to get back at the Sundrop light engine: I think the decision that Don made for the Sundrops makes a lot of sense. It can be extremely economic. It can put out enough light to facilitate a walk in the dark and it does so with a rather unique beam. If you want to defend yourself in the car parc, think about
http://www.surefire.com/LX2-LumaMax 200 lumens, and we all know that Surefire is conservative about their ratings.