Starting off - good luck at the academy! You will find that Law Enforcement is a really good career.
There are a ton of very good lights out there. SureFire, Pelican, and Streamlight are the three that most public safety professionals out there will tend to use.
As a former academy instructor, my personal recommendations still fit within the three brands mentioned above. They all have killer customer service, their products are very durable, and they work. Some of their products (specifically SureFire) I have owned for over 18 years now, and they still function perfectly fine and as expected. In other words, you can trust your life to these three brands.
For more specific recommendations, I would choose the lightest flashlight that gives you the biggest and brightest beam. Why? You've got a ton of other stuff on your belt. Sidearm, baton, taser, two magazines, etcetera. (Of course, I shouldn't talk - I used to carry a G21 with 4 magazines, 2 sets of cuffs, ASP, OC, and SF 9Z)
Based on your criteria, I'd do this:
1) Get yourself a SureFire G2. You can snag one for about 35 bucks via mail order
2) Buy a Malkoff or BugOutGear drop in. I'd recommend the Malkoff. 55 dollars. The low power (M60L) will give you 140 lumens runtime at 4.5 hours. Even the High output unit will give you nearly 2 hours runtime at 230+ lumens.
3) Sell the P60 incan module off to recoup your money. You regain about 10.
Total expense - about 80 dollars. You will end up with a flashlight that gives you killer throw, good flood for peripherial lighting, and superb brightness. And - it weighs only 4 ounces and can run on either primaries or rechargeables.
For a little less money (about 65 bucks or so), you can also get a G2 LED variant. That will give you 80 lumens and decent runtime. That will also run on rechargeables or primaries.
The aforementioned Pelican 7060 is really nice. My concern using it is that it's given out on me within an hour forty of run time (which is a bit longer than specs). The unit has very good throw and decent flood. Judicious shopping can get one for you around 100 bucks.
On a personal note - I find that the stock 6PL and G2L LED units are perfectly fine for use. I recently used a 6PL extensively during New Years on a search, and the unit ran extremely well in a real life test.
Good luck, and stay safe!
-Steve