I just bought an el cheapo Luxeon 1 watt (has lumileds on the board but could be a fake?) that runs on 2 CR123s - bought it because it claims u can adjust the beam from flood to spot - yeah right. It draws abt 330ma on 2 batteries and abt 30 ma on 1 (lights up very dimly). My question is, by this observation is the light regulated or direct driven? I'm not even sure whether it can be determined this way...