The Photon Torpedo with the LED upgrade is a very nice light, doesn't use peculiar batteries, and is very bright and focused. You can sometimes pick up used PTs or Scouts with the original bulbs for fairly cheap (we paid $50 for ours) and then buy the UK SL4 eLED light and transfer the module, which gives you a real nice light for about $120.
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What she said, but you can just use the Sl4eLed for around sixty to seventy bucks. It has the same UK bulb assembly as the Proton, Scout, and Salvo with a little more power. I've used one as a primary light in clear water.