Sooner, or later.
We all hope: sooner! 
Several months ago I bought the Ultrafire 501A host that Manafont sells for $5.89 after it was recommended by E1320 (Erik).
I was amazed how much better made it is that my other Ultrafire P60 hosts.
I also own a nice new Solarforce L2M.
The 501A is just enough smaller than the L2M that I often drop it into my pocket instead of the L2M.
Both are fine gear and both can be used with any P60 module, whether cheap or expensive.
Drat, Now Boaz has me doing a search about that xiware L20C……I should have gone to take a nap. 
Small Sun ZY-T13
The UltraFire C8 U2 from here: C8-U2 at $16.50. It's a U2 running at 3.0-3.2A on a good battery, great reflector. Reviews: here1 and here2.
In the 2nd review, rdrfronty measured 871 lumens OTF!! I got one, it's very bright, great throw, running an EagleTac 3100 or Panasonic unprotected 2900.
You gotta consider this light in a short list for one of the best at/under $20.
OK, so far it looks like I’ll need to buy a UF2100, one of the hot rodded Ultrafire 501’s and a Solarforce L2M. And maybe one of those Balder thingamabobbers, and quite possibly an Ultrafire C303.
Then I’ll stop. I swear.
What should I list my disabilty as?
Flashlight Acquisition Disorder
Illuminated Device Disease
I’m partial to IDD myself.
Thats the spirit. Just get them all.
the best flashlight in any price range is always the one u have not purchased yet.
I would say the best flashlight is the one you get for free.
I myself just never seem to get any for free.
The best flashlights can be put in two categories:
i) The truly useful one that you frequently use.
ii) The one that WOWWTF your audience.
GG NO RE!
Boaz it’s simple I like the 501A so much because 5 minutes with a file to smooth out the sharp edges on the bezel and it makes a perfectly pocket-able light with unmatched output.
I agree the L2M is an unreal deal on an awesome host, but it’s just a little to big to comfortable fit in my pocket.
I know it’s not a 501A in the picture but it gives an idea how easy it is to smooth out a sharp pocket cutting bezel.
Fixed it for you.
Erik made me order one of those 501a’s too and with a SF 16340 in it with a XTE drop-in it is my EDC for the last month or so. I like the L2M but the 501a fits better in my pocket with the smoth head.
Oh ya forgot you Jack that was the pic that pushed the button! Love that pic!
That’s hawt.
Might need a little paracord loving though…
Best? There is no best! All you must buy!
...yoda ....
Hello.
What is the actual 2017 conclusion up to ~$20?
Five years later…
Thanks.