Well, I've been reading some posts speculating on what the KL5 will run on and did a voltage and current draw test. Conclusion is the KL5 uses a boost circuit. I will post graphs later but for now, do not attempt to run the light on 3x123. Even 2 li-ion's may be questionable depending on the forward voltage of the LED. On my particular KL5, the current draw starts to increase very rapidly at a Vin of 7.3V. This means it's going into direct drive at that point. Two Li-Ion's cause the current to go to 910mA which means the LED is seeing about 910mA. I presume 3x123's will drive the LED beyond an amp, probably not a good thing for the circuit as well.
CM
CM