User Review: Black Diamond Apollo
Price Paid: $49.95
This lantern has the smoothest and most useful beam I've seen out of all of the LED lanterns on the market. Check them out side by side at any store allowing you to turn them on. It also avoids any direct view of the LED so it's never glary.
On top of this, it's nice that it takes the BD NRG rechargeable battery pack and can be dimmed to help the batteries last even longer. The collapsible design also makes it easy to pack. I highly recommend this product to anyone wanting a truly useful lantern, not just the cheapest one they can find.