If this question was asked in 1995 I would say go for it. Being as it is not 1995, it would be odd (to say the least) to seriously consider paying $80+ for a light that produces 60 lumins of light for only 60 mins using $10 worth of batteries.
No pocket clip, doesn't tail stand, bulbs burn out, expensive hard to find batteries, low power, expensive, outdated, inefficient, clunky, heavy, only one mode, and terrible twisty tail cap. What's not to like? LOL !
Surefire makes a LOT better lights now than that old relic. If you are going to pay $80~ for that light and then another $50-60 to put a decent head on it, wouldn't it make more sense to just buy a better light out of the gate? I can see modding one that you already owned but why on earth would you buy a new one to mod? Huge waste of money since the old parts are not worth anything to anyone.