It sounds like you want a bright red keychain light. If you are willing to go up in size, InReTech offers seven different red LED adapters that will beat up and take the lunch money from keychain lights. Most of those are based on Luxeons, but two are not. We have an inexpensive spider LED based adapter for the AA Mini-Mag, but if you can't pack a that much, I'd go with the Photon III or a Photon X-light.
The brightness you will get out of any keychain light will be fairly good for most uses. If you need a lot of light, you will probably have to accept size increases at this time. In five years, keychain lights will carry warning stickers and in a decade they will probably cut through aluminum and not be allowed on aircraft. For right now, the brightest red LED commonly available is the Lumileds 1W Luxeon followed by the Lumileds spider. In the next six months we'll probably start seeing some product from UEC and Golden Dragon that will blow our socks off. Wresting those form factors into a keychain will probably take some doing.