Submitted by Ben
Fenix makes some real quality lights, that are about as good on batteries as I have seen, and cost quite a bit less than SureFires. I just picked up a P3D Q5 from one of their distributors for about 85 dollars. The P3D Q5 has variable output modes to help save on battery life when you don't need a lot of light to a maximum output of 215 lumens.
Only downside for my use is that the push button is recesseded into the tailcap so you can use it as a lamp on a tabletop with the diffuser adapter... which means it isn't perfect if you are using it as an off-hand light for shooting... but as an all around light I would have to say it is a steal at the price for its performance.