I'm assuming since this is your first post that you aren't a flashaholic, so he hasn't seen any especially nice flashlights. If that were the case then I partially agree with wesinator - a larger size would probably be more impressive, as well as throw.
I recommend going for the more expensive flashlight because I think he will be very careful with it if he knows what it is worth, or even just how much better it is than what he's seen before.
With that being said, I would recommend the Dereelight CL1H v3 (on sale from flashcrazy in the marketplace) or the tiablo ma6 (batteryjunction.com). Eastward and Aurora, on dealexteme.com and kaidomain.com, have some nice flashlights - they are a cut above most of the flashlights on those sites, although still a cut below the former two. These suggestions are keeping price in mind - you could get a lot better.
I own both AAA flashlights you are asking about. The firecracker has a similar but smoother and more tinted beam compared to the LD01. But the big difference is intensity. The firecracker is pretty much useless except for finding your way in absolute darkness or at very close range. The LD01 will light up most of my neighbor's house from my window despite street lamps etc. And the quality is completely different - even a 12yr old would not miss it.