Will 14500s Work in Cree "Elly"?

I've ordered several of the DX and Kaidomain Cree Ellys. I've thought about running a 14500 Li-ion in one of them. From this Board, I know that the boost circuit will be burned out with use of the 14500. However, as I recall the 14500 will then power the led directly rather than via the boost circuit. So, it would appear to me that the output of the Creed Elly would be greater this way and worth burning the circuit board in the flashlight.

Is this sound reasoning? Are there any hidden dangers to doing this? Can the remaining circuitry stand having 3.7+ volts deliver current directly to the led without eventual harm?

I understand it would be far better to bypass the circuit altogether!

yup, bypass and if u change your mind later you can switch back =)

Have a look here :
https://www.candlepowerforums.com/threads/141874&page=20&pp=30