The 1xAA light has the tight focused 'moonbeam' type beam, right? I know a lot of CPFers don't like that beamshape, but if someone could make one really bright, I think it would be useful. The kinda bad thing about the River Rock moonbeam lights is the plastic they use isn't very clear. Compared to the glass of the old style Inova X1. Plus, the X1 focuses the beam a bit more tightly.
Now, on the 2xAAA light, I think if you can get a Cree or SSC in there and it focuses decently, I think you might be on to something. It seems like about every month or so, a new member comes in asking about a decent 2xAAA light. I used to put MJLEDs, SMJLEDs or WahWangs into 2xAA and 2xAAA Minimags, mostly to sell to nurses but with the River Rock lights, I stopped doing that and just referred them to a Target store.
Plus, the silver ones are only sale for $2.50 if you can find a Target store that still has any in stock.