Don't worry about the relative brightness of these lights. They have many nice attributes but being seriously bright isn't one of them. They are for close-up tasks and walking around in the dark, not lighting rooms or throwing across long distances.
If you want a brighter keychain light, try something bigger, like the Firefly when it becomes available, or the Arc LS, or (less expensive and lighter than the LS, but incandescent) the Princeton Tec Blast (powered by two AA's). The PT Blast weighs somewhat less than the CMG Ultra and is a heck of a lot brighter, though of course you get much less runtime per pair of batteries.