Hmm, I stumble in and find an enormous amount of CPF-speak and a bewildered newbie trying to understand the "crazy talk" people have been saying.
What is it you're looking for? I get that you want to use a Luxeon to go bow-hunting, but what are your requirements in a light? It may just be simpler to use a store-bought solution, especially if you're a newbie to electronics. You'd also need to come up with a heatsink for the Luxeon because they create much more heat than the 5mm LEDs you're probably more familiar with. Let's also not forget the need for a reflector (or to machine one) and a battery case, and suddenly your expenses could go higher than it would be to just modify an existing light.
What I'm finding a little confusing here is-- are you looking for a thin beam of light that throws far, a wide beam that floods an area with light, or something a little in-between? Luxeon III (3w) lights tend to be better throwers, and Luxeon V (5w) lights tend to be pretty floody, although this isn't very firm -- it's really dependent on the reflector or lens you use with it. To paraphrase what everyone else said, Luxeon V lights need a bigger reflector to get the same kind of throwy beam that you'd get from a (smaller) Luxeon III light.
Or maybe we're all misunderstanding you -- are you familiar with the general floody beam characteristic of a LuxV and want to know how far you can expect a LuxV light like a Surefire L4 or L6 to throw?
For reference, you can get the 7w Golston and other cheap but decent lights on QualityChinaGoods.com. I've dealt with them before, and I can say I'm pleased with Dae's service.