Also, the reason Seoul and Cree are often mentioned as being so closely linked is that Seoul is licensing the blue LED die (the part responsible for the improved efficiency) from Cree. Seouls are rated for slightly higher light output at 1A current, but typically operate at a higher voltage, so power efficiency is actually about the same.
Maybe the Super Thrower Far Projection and DX? I like the profile of that light, seems like it would fit in the hand well. I also am looking for a replacement for my Arc AAA and L1P. And any idea on when the CREE E2L is coming out? Please, enlighten me.
I would stay away from that one, looks to be using an extremely ineficient driver. Of the DX or Kaidomain lights, I'd recommend the following:
1) Ultrafire C2 -- this one has been surpsingly good, good build quality, $22 for the standard (from DX or Kai) $26 for the Hard Anodized (Kaidomain.com). Lots of bright spill, and a nice focused hotspot both -- a good mix of flood and throw. Decent regulation, runs 2xCR123 or 18650, a bit of a battery hog as it drives the LEDs very hard (also actually my brightest flashlight for overall output)
2) EYJ flashlight ("U2 Style" Cree) -- don't own this one, but I've heard lots of good things about it. Uses 1x18650.
On some of their cheap lights you'll get a great deal, othres have inefficiency problems, or bad regulation, or reliability issues. Dealextreme is a good source to get parts such as Cree and Seoul LEDs for cheap though (I like the tint DX sells, but not Kaidomain)
Anyway, if you're looking for something high-end as an LED throwing light, the best available is Lumapower's Cree collection:
The D-Mini (1xCR123 pocket light) and M1 (1x18650) both use similar reflectors and effectively throw very far. They also use very efficient drivers and are designed for very good runtime considering the output you get. The M1 I have is my longest LED thrower, and I'm using the textured reflector. Their new MRV (now pre-ordering) appears to be the longest-throwing LED flashlight ever (aside from weird stuff like using huge aspheric lenses). Due to a wider and deeper reflector, it has almost 4 times the hotspot-intensity of the M1, means it should throw twice as far.
My final suggestion for a light that is simply amazing is the Fenix L0D-CE. Unbelievable output for such a small light. On a 1.5V cell (Lithium or good NiMH) expect 55 lumens or so on high, coming out of a AAA light! With a LiIon 10440 in there, the light will drive the LED as hard as it will go, meaning your keychain light will be about as bright (lumens, not throw) as just about any of the other full-sized lights recommended on this thread. There are tons of threads talking about this light if you're interested.