You didn't mention if you want a multi-stage light or not. I second the recommendation for the Batterystation special 3W regulated Pelican M6. A good buy at $99 if you don't mind spending quite a bit less than your budget.
I was also looking for a 123A x 2 light and learned a great deal at this link at Doug's site:
http://www.flashlightreviews.com/reviews_index/reviews_index_luxeon.htm
I was interested in multi-stage so the EXPENSIVE Surefire U2 caught my eye. There is a very cool passaround you can still get in on as of this writing by a very generous anonymous CPFer. If you hunt around on the passaround section you'll find it.
http://www.flashlightreviews.com/reviews/surefire_u2.htm
I almost bought the Nuwai Q IIIs big brother, a light I'd still love to buy. Chinese or American, it doesn't matter to me. In fact, I shopped carefully and settled on a Chinese wife. She's a keeper, for sure. . . Nuwai is way under your budget, though. A steal at about $42 at Amondotech:
http://www.flashlightreviews.com/reviews/nuwai_tm301x3.htm
You can also move up to a 5W version for about $20 more for some serious blasting.
Since you mentioned smaller companies and unusual lights, you might consider taking a flyer on the light I just ordered, the VB-16. Waion is closing these out in the $40 range. For a little more, you can buy the same light in a numbered limited edition CPF version. They had been about $70 before. I can't wait until I receive it. Someone here said they sold their U2 since they found the 16 stage VB-16 brighter. Doug just gave it 4.5 stars. According to some of the user reviews here, and Cone's review in the UK, it's also a scorcher for its price range, 3490 Lux!!!!!, a few small quirks not withstanding. But even the U2 has its doughnut beam quirks that not everyone likes.
http://www.flashlightreviews.com/reviews/britestuff_vari-brite.htm
http://www.cones-stuff.co.uk/
Cones has lots of great reviews of all kinds of less common lights, too, including some cool 123 x 2s.
Let us know what you ultimately decide. I may have been willing to pay up to $100 for the VB-16. It has the coolest way of switching brightness I've yet heard of. A rumored new version is on its way, too, but I didn't want to wait.