Time to revive this thread!
Whats the best, most powerful 2xAA light on a budget, sub 40$?
I tried google but it only came up with this thread from BLF…
Fenix LD22, I have the LD20 and it is indestructible and the LD22 has a side switch with a great UI
But will it out throw BA20 for example :D?
Caveman: http://www.shiningbeam.com/servlet/the-78/ShiningBeam-Caveman-Cree-XM-dsh-L/Detail
With BLFUSER discount, very close to your budget.
Just compared the two and it is about equal, I think the LD20 has slightly better throw but in reality it doesn't matter.
Hmm, I have to clarify - 40$ shipped to EU 
Oh.....
Hey, I stumbled upon this one, looks like a clone of Romisen RC-N3?
http://www.ebay.com/itm/110687691715
I dont expect anything spectacular from it, but has anyone bought one :D?
Regardless of price, is ET with XP-G2 interesting to you? Great throw, and no China lumens.
I'd give Fenix LD22 a chance too (Dinodirect with giftcard).
I already have JetBeam BA20, which has XP-G, so Im kind of looking for something with even better throw, its not a bad for the money I paid, but something cheap is into consideration as well, if I cant find E21/E40 for very cheap :D!
Something better in throw than a BA20/P2A should be the NiteCore EA2, but it starts at 52$…. very expensive
Me too, lol
Did you buy/do you have it?
The fever struck again veer, I blame you!!,lol.
So you bought, right :D?
Tell us you did :D!
I dont expect much from that light, but if its really Cree then it might be worth it, or might not, depending on beam pattern and mA draw.
Better throw - bigger head - smaller emitter
I can’t stop suggesting ITP SA series! 
(SA2 model for 2xAA config. <$40 for sure ). Initially, SA series were shipped with R2 emitter. If you can find it - it may out throw BA20.
so did anyone ever get this light?
…yet another one I want, now!
reminds me of my LD20, though. still wants one!
so now it’s wait, and wait, etc.