Personally, I really like Peak Led Solutions for the price point and simple style. I am sure that the Fenix models are very nice as well but what I have found to be the most important issue is that a Key chain/EDC light should/must be easily attached to a key chain so it is much more likely to be on your person at least for my usage. So many nice lights that I see in the relevant size range are insufficent and or difficult to attatch to a keychain. I don't mind a larger light if it easily attatches and would choose a larger size over a smaller multifunction light that has a poor connection to a keychain.
Peaks that I like;
Shasta: at least 3led version high or low power, has a N battery May be difficult/expensive to find but you can get an AAA body if you don't like the N configuration. Beautifully proportioned size and shape, it's a meatty little Kc light good for close range lower output.
McKinely: 7Led high or low, Cr123A battery beautiful smooth beam. Much brighter than the Shasta.
Look at a Carribean, Mediterranian, Atlantic, or any of their ocean models that have a Cr123A option, very bright and they are 50% off for their luxeon models so they would work in your price range and they are plenty bright.
Peaks are US made as well and while I won't turn my nose up at a foriegn produced light, many of them are quite beautiful and very well made, it is nice to find something that is still made in our country.
Keep pokin around, ask questions, look at beamshots and take a little time, because once you enter the rabbit hole, you will find out how deep it really is and you can soon get consumed and overwhelmed with the choices.
Most importantly, what do you want in relation to:
1.Beam quality, spot, flood, or mixed?
2.Output, upclose low output, or medium long range higher power, or one multi power level light for both options.
3.Two affordable lights, one very small , and one larger, each for a different purpose.:twothumbs
4.Switching, pushbutton/clickie vs twisty.
Arc lights are nice as well but I prefer more than one led in that size range although from what I understand they are pretty bright and quite stylish, looking at adding one someday. Photons are a nice little addition/backup as well and even though it is a little dated but no less useful, check out a Nuwai QIII from Battery Junction for 19$ or so. A little bulky, and you will need to add a very very small split ring to the pocket clip but a pretty impressive little light and each time that I have ordered from them, I was pleasantly suprised to find a bonus coin cell light in my package.
Hopefully this has helped and not confused your choices.
