sure, yes, you can direct drive.
It is the most efficient way to run a light.
The P7 is a very robust package that stands up to a lot of abuse.
I do recommend you getting comfortable with what you are doing before you assemble a monster light with multiple emitters and many cells. (*edit - infact I'm cautious about you assembling a multi-cell pack your first go -- I strongly recommend using protected cells: 18650 cells can be DANGEROUS and they get exponentially worse off in numbers, especially a pack in series that can have a cascade failure)
Use a single emitter, a single cell. Use that for a night.
Direct drive means the light will be brightest at first and continually decline from then on. How gradually the output falls off is a function of your emitters drive current and the batteries performance at that level.