and
http://www.dealextreme.com/p/trustfire-protected-3-7v-900mah-14500-lithium-battery-2-pack-3435
and
http://www.dealextreme.com/p/universal-smart-quick-charger-recharges-all-batteries-100-240v-ac-14885
However, when I got mine, they had them in a US warehouse but by the time I ordered for a friend they were out so I am still waiting for shippment. We'll see.
If you were willing to spend your whole budget and leave your friend to his own rechargeable batteries (doesn't almost everyone have rechargeable AAs?), I think this would be an amazingly wonderful gift.
If a few things go more right with mi finances I may just change my gift to the ITP. Will likely treat myself to the XM-L version in a year or so when it comes out;-)
For a non flashaholic a couple of CR123 in a non very draining flashlights could last even a year.
My Wk25 on a eneloop gets charged apporximately every 1,5 month's. I will probably stick to alkalines in the future as eneloops are wasted in this one. I can get decent 8xAA alkies for 2€. excellent for remotes, clocks and other mild to low drain devices. Runs the Wk25 to full potential however.
Don't know if your friend has NiMh or li-ion charger, but that could help you to make good decision. If it has Ni-Mh charger, give him a bright 1xAA light or 2xAA light. If it has li-ion - no prob here. Also, if he use CR123 for example, you can give him your TF Z1. But again, I prefer always rechargeable batts/cells. Nowadays, I use alkies only in remote controls and clocks. Besides, regulation with rec. batt/cells are (almost) always better than with primary.
Anyway, as gift, I would give him a good light, i.e. already suggested ITP (C7T, A2, A3 or SA1 from DD for 30 bucks), or Xeno E03, of course. Romisen (from SB preferably) could be a nice choice also (for example this one).
I bought the xeno with the diffuser. Used it as a nav light the other night when out fishing. Stuck it in the end of a pole as the boat I was on had no white navigation light