For hunting, TK 45 is a good light to illuminate the target within the 50 to 100ft mark. The generous spill will also light up the target's surrounding. ( I hunt in an area where natives are prone to be mistaken as game.)
IMHO, its too big for one to point the TK45 and shoot simultaneously. For me, I don't hunt solo, we take turns to be the torch bearer, so it makes sense to carry the biggest and brightest light available. I carry the TK45 on my hip using the Nite Ize stretch holster clipped on a duty belt. Its a tight fit, but it works. Forget about the swiveling part, the battery tube is too heavy for the holster to maintain a horizontal position, any big movement will tilt the torch back to the vertical position with the light pointing right back at your face
For Hiking, its depends on the terrain you're in. if you don't need to use your hands for climbing, setting up tents, etc, by all means bring the TK45 along. Btw, its an overkill with the lumens output on turbo, medium and the occasional high will suffice. Otherwise, go for a head lamp like what linty suggested. I can't stand wearing a hardhat or a pisspot on hikes, so I'm using a single 10440 light clipped on my baseball cap. Just bring along some backup lights and lots of cells.
This is how my setup looks like, cheap, simple and effective.