If the Ledwave is in fact HAIII, buy both. Swap the light engine and lenses. EDC the QIII with HAIII body, Lux III and glass lens. Make a type II anodized, plastic lensed, Lux I backup X-11.
For an EDC, I'd take bright over long runtime anyday. Someone who uses a flashlight quite a bit every day, and who needs longer runtime should use a 2-cell light anyway.
Use Li-Ion rechargable batteries, and keep them fresh. Just keep a backup primary cell in your car or in a belt holster for the rare occasion that you need extended runtime. There's no reason to worry about runtime. The Kydex holster with backup cell holder that LiteMania sells would be perfect.
Bernie