Budd,
As I said, it is not a fair comparison but I don't have a lot of red lights laying around. The Arc AAA red has a large flood VS the hotspot of the Peak, they are in completely different classes of light as far as I am concerned.
I don't have any single LED Peaks (why would I? Have four Arcs already) Since Arc does not make the red single LED lights anymore, maybe a comparison between the Infinity red and Peak would be more accurate.
The Arcs run around 45mA to the LED, the Peak high power runs 30mA to the LED. I would assume the Arc AAA to be brighter than the single LED Peak AAA. If a Peak peaks your interest, get the multiLED versions...they are bright for their size. I know they are working on Luxeons next so I will compare it (when available) to my MicroIlluminator (155mA to R3J Luxeon driven by AAA battery)
It will be nice to have a single cell Luxeon that is waterproof.