Again Lighbringer made his point .., only one light is not enough for most of the situations..! You can not run with a TK75 in your hands , you can not hike with an AA light.. and so on...An EDC , a good thrower and a strong flooder should be a must...
As for reliability , I already stated my point of view when is coming to mode a light near or beyond their limits ! I "lost" some good light trying to push them hard , I was close to die in the mountains cause my beloved hard modded light gave up on me in the middle of a river crossing.., so , for myself , the modding now consists in a better led , thicker wires , good springs and switches , quality "O" rings...those small things that give me confidence in my light companion !
Let be clear , I'm not against modding , by contrary , but if this is done only for "show off " purposes , I'm out...
Fenix lights have a good reputation , I have only one , a TK75 from the first batch , dedomed leds and mildly modded driver , but this one worked flawlessly for so many years , even if , after modding it , I carried a back up light , just in case...
But , as you know , even the better companies has their fails , seems to be a luck game...