Battery life for real?

I am new to decent (although cheaper) LED torches. I recently bought a supposed 900L Ultrafire 501B torch (with a 18650 battery). It is a CREE MC-E Bin K, 200mA. Dunno what die size it is, but will estimate it is around 300L . I have not used it much as it is so new. The few times I have has been an eye opener. The thing is VERY bright, I have to say that. No problems there. The thing is the heat it generates. On both extended uses I had the thing on for about 5 minutes (or less) - just looking around the shed for something. The thing got so hot in that time it was getting uncomfortable to hold. You could not touch the head piece for any length of time at all. The main body was ok - but I could not see anyone using one of these torches for much more than 15 minutes or so. It would simply be too hot!

Since the case is getting so hot, I am assuming the heat is being dissipated from the head ok. I am thinking about putting in a bit of copper strip to help in this regard - but am not too sure it is necessary.

I think the battery life on this is something like 1 hour, or perhaps 2 (I am totally guessing). My question is - are these times real - or simply computed from current drain/battery capacity? I cannot see any way I could leave this thing on for an hour unless I put a fan on it.