For a compact package with a bright focused beam in a handheld, the new Scout HP (their new LED module for the 3 cell lights) is pretty darn sweet... for longer burn time there is the Scout XP (which can be in either 2 or 3 cell)
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I always dive with a light. You will get bounce back if there is high concentrated particles. You will get limited visibility but better than no light.
It is safer to always dive with a light because your dive buddy can see you easier.