i got a Terra Lux light a few months ago from Santa. here's my "review" of it so far:
http://www.terraluxportable.com/product/tlf-3c2aaex/
firstly, the light is not a super compact unit. it's a relatively large light, too big to put in your pocket most of the time. in a jacket pocket, it's just fine. if you wore a magazine and flashlight holder, it's gonna be fine. however, i don't. i usually bring it to work with me.
the light has one button at the rear. every time you click the button, it turns the light on to full power (220 Lumens). if you slightly depress the button a second time it dims down to 100 lumens. i find the 100 lumen setting to be more than enough for most activities, but when i'm trying to find the dog in the dark, that 220 Lumen beam shines a good effin distance, making finding the mutt a relatively easy task.
the light came with a lanyard that i promptly removed. there's a simple loop unit that is removable when you take off the bottom bezel for battery access. i just don't think that a lanyard is a necessary item these days.
AA batteries are a nice touch, no more searching for a good price on 123 Lithiums. if it runs dry, just yank the batteries from your VCR remote (i know that many of you still are holding on to your VCRs, don''t lie)
the manufacturer claims 3.5 hrs runtime on high, and 26 hrs runtime on low. i can't argue with these numbers, as i haven't timed it, but cheap-o Costo batteries that i have with the light have not been replaced in the 3+ months i've had this.
the focus of the beam is pretty tight, with a flood area that encompasses MORE than enough distance for everyday activities and then some.
MSRP of this particular light is $49.99, and can be had for less elsewhere. Amazon, for example, has them for $24.99
all in all, i'd give this light a solid 8 of 10. the only things i'm not totally loving are the lanyard, the carry case that mine didn't have (i got screwed apparently) and the sorta smooth body. i'd like some knurling on the body of this light. not any super aggressive knurling, just a little more grip. some griptape would work, or if i really get a wild hair i'll chuck it in a lathe at school and actually knurl it. probably not, as i don't want to have to re anodize it
i'd not hesitate to pick another up some time