ok here's the deal....
for now, the lowest current 3.7V lamp assembly available (that I know of) is the HO-4 from Lumens-factory. On a single R123 cell, it would draw about 1.75amp.
AWs protected R123s will power this lamp, however. You will be pushing the cells beyond what they are designed for. 1.5amp is the maximum continues discharge considered safe for that size cell.
However, I think AW would agree... that when used in a single cell light, and only used for short periods of time, you probably wouldn't have any problems.
I wouldn't be surprised to see LumensFactory start producing a wider assortment of 3.7V (the "4" series) lamps.... we may very well see a lower power version in coming months, that would be more practical for a setup like yours...
runtime on one of AWs protected R123s driving a LF HO-4 would be around 18 minuts.
[EDIT IN] have you considered one of the new Cree Drop-In modules?? this would probably be the brightest, longest running option you could get for that light... kinda pricey, but something like that would really make a 3P scream!