Was just browsing DX new stuff and this appeared:
http://www.dealextreme.com/p/viker-star-cree-140lm-3-mode-white-led-headlamp-3-x-aa-105390
In description Q5 but it seems to be R3 emitter according to this:
http://www.nextorch.com/en/flashlights/headlamp-series/Viker-Star/
Seems promising with that 3xAA setup and newish emitter. It also seems to have magnetic control!
The downsides are also obvious; regulation seems to be quite poor, although runtime not that bad.
I bet it has more of a spottish style beam, also features a SOS-mode...
Price: 31$, post if you have this or happen to test it!:)