Ty-Bower -- About 99% of the heat goes into the head because LED's produce cold light. Given the efficiency of LED's at 30 lumens/watt, that means about 85% of the energy used by the LED is converted directly to heat. That heat goes directly into the heat sink and head. With no fins, the stock head does fairly well at dissipating around 12 watts. At 12 watts it will get good and hot after about 10-15 minutes of just sitting, maybe longer if it's being moved around. But as temperature gets higher on the head, the differential between it and ambient temperature increases, so it reaches a point where it won't get any hotter, unless convection air current is eliminated (i.e. under a blanket), and then it can get as hot as a soldering iron. I haven't had the pleasure of using fins on the head yet, but I hope it will allow for 20 watts.
LED Candle-- My standard driver will be 950mA-1000mA drive into an H-binned Vf at 3.25 Volts. The circuit is very large, so I need the extra space in front of the switch. The cut-down is a standard Mag that lopped off at the bottom and uses the standard tail cap. This keeps the cost down also.
Ned-L-- Runtimes will be coming soon, but I have another estimate that the runtimes will be about 1 hour and 10 minutes with a single cell and a drive of 2 watts into 4 Luxes. This estimate is based on 9 amps of current draw from a 12Ah cell.