You should try out the Photon Rex, also available for under $20 at Amazon. This is a rugged, very bright keychain flashlight, with continuous dimming, flashing modes, etc. and a unique recharging ability. There's even a solar and USB charger for it, and I think a clip to make it a headlamp.
It's been my EDC for a couple of years, after trying several AAA lights. I wear one out in about a year, using it several times a day.
A big feature for me is that it's easily used one-handed. Also, it's one of the few keychain lights to compare in brightness to the latest AA lights.
LRI REX Photon Rechargeable 4-LED Micro-Light Keychain
Nice find Anon, thanks for the tip. I really like the accesory kit, specially the solar charger.
Its also cool that it recharges with ordinary batteries up to 3V.
Never saw that before (pretty neat for a keychain light) and wold make a good light in a situaiton where batteries are hard to come by and you may have to get by with whatever you can get your hands on. I'll get one of these and review it.