For me, I think you can do better for that amount of money, plus you are kind of stuck with their batteries becuase of the length. I would rather get an L5 or the L6 and use Pila batteries on them.
I went the L6 route and I am using two 150S (with the spring Jon sends) which I can replace at any time with standard CR123's - a tad long, but versatile and bright /ubbthreads/images/graemlins/grin.gif
Plus, with the L6, you get the same body as in the M3 which opens many possibilities for M3 lamps/bezels, including the very awesome Turbo head!
Will