The OLIGHT M20S Warrior Special Operations Tactical Flashlight with CREE S2 LED is, in my opinion, the best cr123a battery-powered flashlight available in its price range. It's indestructible, as the video of an M20 being torture-tested shows. Go to <[...]>, click on the SUPPORT button, and watch the "M20 TEST VIDEO" or go to <[...]> and watch the "Olight M20 Warrior brutal test" video. A single M20 flashlight is turned on and then frozen in ice, boiled in water, lowered into the ocean, thrown out of a third-story window onto paving -- twice, run over by a piece of heavy construction equipment, dragged on pavement behind a pick-up truck, and, my favorite, shot at close range with a shotgun -- and it stays lit every time. No matter what you do to your OLIGHT M20S flashlight, it'll survive -- and help YOU survive.
This is an incredibly versatile flashlight. The 15 lm "low" setting is perfect for use at night in ordinary situations, whether in your house or in a tent, because it's just enough light without being too much light; the 115 lm "medium" setting is more than enough for situations in which you need to be able to see something better than the ambient light allows, e.g., reading the serial number on the back of a piece of machinery or seeing exactly where that paper jam is inside the copier; and the 340 lm "high" setting will handle anything and everything else, believe me!
The M20S is a non-lethal/less-than-lethal self-defense weapon, too. The strobe operates at the "high" setting, is capable of blinding an assailant even in daylight, and at night will disorient and stun him as well. After you've stunned an assailant, by the way, you can then hit him in the middle of the forehead with the sharpened crenelated stainless-steel striking bezel and create a unique and handy mark by which you or the police can identify the perp later.
The "S" refers to the side switch on this model, which differentiates it from the regular (non-Special Operations) M20 model. With the side switch you can cycle through the four settings -- low, medium, high, and strobe -- in that order whenever the end-cap switch has been depressed to turn the power on. When the power is off depressing the side switch turns on the strobe setting. The side switch isn't specially located on the flashlight barrel, and reviewers on other sites have complained that that makes the side switch too hard to locate in an emergency. I've learned to pick the flashlight up and, using the pocket clip as a locator, turn it in my hand in such a way that my thumb falls on the side switch. A reviewer on another site wrote that he planned to put a dab of silicone sealant on the side switch to mark it, and I may glue a hose washer on the flashlight barrel centered on the side switch to mark it.
I ordered the M20S with the CREE R5 LED (10 lm/110 lm/320 lm) and the purveyor sent me one with the updated S2 LED at no extra cost -- a pleasant surprise, even though I was already getting it for only $75, which at the time was $25 less than anyone else was selling it for.
You can run it with two cr123a or rcr123a batteries OR one rechargeable 18650 battery. I use a rechargeable 2,900 mAh AW 18650, which gives me incredible run times, and carry a second fully-charged 18650 with me as a back-up. I also carry two cr123as for either my OLIGHT M20S or my OLIGHT i1 EOS flashlight and two AAs for my 4Sevens Quark AAx2 Turbo R5 Edition flashlight. I carry the i1 EOS all the time -- I even clip it into my sleep pants pocket at night -- and most of the time also carry either the M20S or the Quark AAx2 Turbo in a belt holster.
Buy one -- you'll never regret it. There are more powerful flashlights available, e.g., the OLIGHT M20S-X (500 lm), M21 (500 lm), M21-X (600 lm), M30 (700 lm), and M3X (700 lm) to mention a few (and, I believe, there are even some other manufacturers out there) but I truly believe -- and I spent a couple of months researching flashlights before deciding to buy the OLIGHT M20S -- that you can't get more flashlight for your money than you can with the M20S Warrior Special Operations Tactical Flashlight with CREE S2 LED.