I would recommend an itp A6 Polestar. It costs about 80 bucks, though you can get a 10% discount and free shipping at goinggear. This is a bit out of the budget, BUT...
It uses 6 rechargable AA batteries, which means you don't have to buy a 15-20 dollar charger and a couple of 8-10 dollar 18650 batteries.
The light is mostly floody though, but with 700 rated lumens on high, the hotspot should throw well enough to see at a decent distance. Plus it is awesome for lighting up an area around you. It has sensible medium and low modes also.
This is the cheapest way for you to get a high powered light (500+ lumens), as even with a cheapo DX P7 for 35 bucks you will still need the special batteries and charger.
The light itself is quite small relative to a maglite and fits nicely in your hand. It fits well into its holster that it comes with, or a pocket, or pack, since it has no 'assault bezel' or other stuff that sticks out.
Another ok option is a Romisen throw to flood light. They arent super bright, but run on CR123 or AAs. (I think 180 lumen rated max for the best one). However, you can adjust its options to go from a full flood (no hotspot), to a full throw (not much of a corona, only hotspot). It would be really cheap (25 bucks or less), and fairly useful.
A third option is a keychain light. An itp A1 EOS SS will set you back 32 bucks. It can use CR123s that you can get fairly easy, OR you can buy a RCR123 and charger for more voltage and brightness.
Witha normal CR123, you have a 2lumen, 30lumen, and 203 lumen modes! Really nice for a keychain light under 2.5 inches long! This makes is pretty bright and really handy. On a trip, you can just carry a 4 pack of CR123s in your backpack for plenty of runtime (as needed). The light is stainless steel and has a good reputation on this site. I have 2 A3s for gifts (came with my A6 polestar), and they are well made.
