Hi Polar-
You should get close to 90 minutes of runtime (fresh battery) with the SureFire E1e incandescent lamp, with 15 lumens of light output. With the KL1 LED attachment, you're still looking at close to 90 minutes of runtime, but with about 16 lumens of light output. Not to mention the additional runtime when it falls out of regulation (KL1).
The Arc LSH-P has close to a two hour runtime, also on a fresh single 123 lithium. The light output, dependent on the bin flux rating for the LED, should average close to 30+ lumens (for the Premiums... the "P" in LSH-P), a rating I'm simply using from Lumileds. Plus, once it falls out of regulation, you still get a "moon mode" runtime.
Hope I didn't make any errors there... someone please fill in the corrections where applicable.
-Jim