The Hog Morph is actually a very impressive little canister light, and the ability to use either head is really awesome. I'm pretty sure they sell a splitter to run both, which is actually better for video.
Stay away from buying HID right now, LED is really the way of the future.
As tbone said, my REAL recommendation is to save a few pennies and get the UWLD light....you won't regret it. I'm the buddy who loaned him the UWLD-35, and it certainly is nearly too much light.......nearly
. Besides light output, the form factor, quality, and support for UWLD lights are unparalleled.
Light Monkey is another fantastic company, and while they have lights in your price range they don't compete with the UWLD lights (in my opinion). To compete with the UWLD offerings, you'd have to spend more on other brands. The UWLD-15 is about the same amount of light as the LM 26W LED, which is a few hundred bucks more. The LM 12W LED is right at the top of your price range and puts out half the light the UWLD-15 does.
---------- Post added November 24th, 2014 at 04:32 PM ----------
Cave Adventurers - Underwater Light Dude 1500 Lumen Primary Light LD15-96-TM - Marianna, Florida USA - Never Undersold!
---------- Post added November 24th, 2014 at 04:47 PM ----------
Sorry, it's not a splitter...it's two ports on the canister. Regardless, it allows you to run two light heads off of one canister which is optimal for video. Flood gives you a nice background light so it's not all black around your spotlight, and your spot head gives a nice amount of light on whatever you're focusing on. Videos without both RARELY look as good (in my opinion) at night or in caves. In the day time, it really depends on distance from the subject (in my opinion).
UWLDs and Hogs have variable brightness settings, so you can turn it down on a night dive in clear water.