I just got the 2xAA one today, it's a 3 watt Cree and £10. There's also larger version at £12, also with the 3 watt Cree, takes 2xC batteries, you also get a pouch.
It is bright! Certainly much brighter than any of the lights I've used before, but they've only been the "for being seen" type. It actually lights up the road with a patch of white light. And of course more robust than any plasticky Cateye light.