I love building my own lights using budget lights as material.
My favorite light is the body of a Trustfire T-803. The body is extremely well made, and has a large well-machined brass pill/heatsink.
Into it I put a new driver, which has (I think) 16 modes, but all of the flashy stuff is hidden, and it gives me a well spaced lo-med-hi.
The driver also has low voltage protection, so I can use unprotected cells, though this does preclude the use of 3v primaries.
The emitter is a neutral XP-G, the pill is potted (electronics are encapsulated in epoxy) and there is glow epoxy around the emitter, which is surprisingly useful.
I'd be willing to bet that if this light was mass produced and sold for $60 (and didn't have 'Trustfire' written on the side), it would be getting rave reviews
I like this light so much that I built another identical one, this time with a red emitter.
You'd be hard pressed to find a production light with such specific features!
The light I'm carrying right now is a Trustfire S-A2 body with the standard driver, but I modified the driver to get rid if the strobe and have an extra low mode instead, so it is now hi-med-lo.
Once again, the electronics are encapsulated, and the emitter is an XP-G.
I'm sure I have more fun with my lights than the average 'off the peg' flashaholic, and I bet I spend a great deal less too.
Having said that, I have no aversion to higher priced lights, and I'm on the lookout at the moment for a new EDC (not because I really need one, but, you know...
)
It's hard looking at regular production lights and not being able to have the exact features you want, but that's why some of us like to build our own lights.
I actually just found a new driver that has an extremely low 'moonlight' mode.
The lack of a very low low is what started me looking again, but now I found this driver, I might just build me a new light instead