Got one of these for Christmas. It uses a Cree XM-L U2 LED. It has various levels of output, the highest putting out 860 lumens! That's impressive for a small flashlight with a single LED. Also it has a good sized reflector for a compact flashlight, so it can focus and throw that light a long way. Another cool feature is it uses 4 AA batteries, so it's easy to find batteries for it. I use rechargeable NiMH batteries, Sany Eneloops to be exact since they are a good quality rechargeable AA.
This flashlight has a low, medium-low, medium, high, and turbo as far as outputs, then it also has strobe, SOS, and beacon.
If anyone is interested, you can get them here:
It's great for a search light, like if you like to hunt, spot deer, etc. Low mode, which isn't that low at 65 lumens, will run for around 22 hours. So it would be good during a power outage where you need a fair amount of light for an extended period of time.
It's cool how far along these LED flashlights have come these past few years. :)