Yeah, but it will run abour 3 times as long.... The ARC AAA is great for keychain use in my opinion, but many people feel it is too small to easily retreive from a pocket and an AA sized hose would be easier to manipulate with gloved hands in the cold... It's always nice to have options.
I bought one of these hoping to be able to use my Lux-modded ARC head on an AA NiMH cell but the threads were wrong for my particular ARC head. I guess ARC changed their threads with the newest AAAs and the adapter I have is intended for newer style ARC AAAs.