On a $400 budget both the MR 11 10 watt HID and the 500 LED (without the cord) are do-able.I am twisting in the wind trying to decide between the Dive Rite 500, 700, 1000, and the Salvo Rebel 12w. Since the budget is limited I don't see myself owning multiple lights in the near term. So, compromise is the name of the game. All of the above lights are $625 or less so I guess the original $400 budget takes a hit, oh well. To the point of not chasing off local creatures the DR500 is attractive and a reasonable travel light at the same time. But the other lights leave several trade-offs I can not seem to sort out. If anyone has used or demo'd any combination of these lights I'd like to know your impression.
A 700 LED will cost you another $150.
The LED 500
In my experience, the 500 LED is a great back up light for cave diving and it is I think ideal for night diving as it is not dependent on a charger, works on regular AA batteries, has about 20 hours of burntime before it begins sequentially powering down the three LED's and has a very even beam with no central hot spot.
As a primary is is not lacking in brightness for cave diving or wreck penetration, but it is lacking in pentration in silty or tannicky water. The lack of a central hot spot, while being nice on a night dive, limits the ability to signal with the light and it seriosuly impacts light penetration in silt. I have been very dissapointed with it on off shore wrecks.
The corded attachment is nice, especially if you like the convenience of a goodman handle. And if used as a can light the "can" portion of the light is comparatively small. However the head of the light is the same diameter and is both large and long comnpared to the MR11 or 700 LED, so there are pros and cons.
The MR 11 10 HID
I used it as my cave diving and wreck diving primary for about a year and it works great. It offers enough light for all but really large wrecks (like the hanger deck on the Oriskany) and the bright central spot is great for both signalling and pentrating silty water. It is in the process of being discontinued so it can be purchased for a great price - around $350 on line. Like all HID's the bulb is expensive to replace and cannot be turned off and on without 3 or 4 minute long warm up and cool down periods.
The 700 LED
It is noticeably brighter than the 500 LED, but has the same even beam. When compared side by side with the 10 watt HID with the beams overlapped, the HID is only very slightly brighter in the central spot. That removes the siganlling issues with the LED 700 and improves but does not totally resolve the silty water pentration issues. And Dive Rite will upgrade the later model black aluminum MR11 heads to the LED 700 head for $150 - about $40 more than a new HID bulb, so you could buy a 10watt HID and upgrade to the LED 700 later as the battery and cannister are identical.
During one dive recently, I loaned by 10 W HID to my buddy whose primary was not working, and consequently got to compare it with my LED 700 primary and handheld LED 500 back up. The 10 watt HID and LED 700 compare very closely to one another while the LED is noticeably dimmer.
In short:
1. If you really need the penetration, go with the 10 W HID.
2. If you want no charger convenience, can live with reduced pentration and want a light that is less prone to scaring off fishies, and either a handlheld design or a slightly larger light head, go with the LED 500.
3. If you have to stay under $400 go with #1 or the hand held version of #2.
4. Otherwise, go with the LED 700 as it is a great all round light.