When I initially starting researching flashlights…
Price Paid: $35
When I initially starting researching flashlights for general camping on www.candlepowerforums.com I quickly learned that the experts did not take any light seriously that cost less than $50 and they would recommend flashlights in the $70 to $120 range for general use.
I decided that I could find a better light for less and I finally decided on the Fenix E20 because of its price (most lights under $35 are just not as good), the fact that it uses two 1.5v AA batteries instead of the more expensive and hard-to-find proprietary batteries like the C123, it's ability to outshine the competition (we illuminated a Great Horned Owl in a tree about 100 feet away and kept it lit as it flew off until it eventually eluded the E20's spotlight beam around 250 feet away) and, finally, just like the inferior Mag Lites, the E20 has an adjustable lens that provides both pinpoint focus and flood illumination up to 330 feet.
The end cap on/off switch is not found in cheaper lights like Dorcy and the E20 is much lighter (three ounces), virtually indestructible with a great economical grip and it's waterproof to IPX-8 Standard (Water-Tight Equipment: protected against the effects of submersion; tested to 12 feet/3.6 meters for 24 hours).
If you can't afford the Fenix LD20 then this would be your next best choice. I also looked closely at Streamlights and SureFires, but their price points for comparable flashlights are higher ($45 - $60).