The old HDS EDC lights (Pre-NovaTac line). Low mode has been recorded to run for over 900 hours continuous. Upgade to an XP-G and that's still a pretty decent amount of light. I had one, for a while (a B42XR upgraded to a cold white P4 by Milkyspit) and even on lowest output it was pretty darn bright.
There is someone doing a runtime test for the new Clickies. I can't remember if it's an older gen (10 second "burst" mode) or a new gen (different threads, 40second burst, etc), but he hasn't posted if it's turned off yet, and it's been a few weeks. The Rotaries, unfortunately, have a ~6 continuous runtime, as they have very high electronics overhead current.
But still, 900 plus hours from a single CR123 aint too shabby.