I recently bought a few SingFire SF348 from GearBest. At slightly over $5 each, they were even cheaper than the very well priced BLF348 version.
Here’s a brief summary of the very few differences between the two.
The clicky switch of the BLF is a tad taller, and a little stiffer to push than the SF version (SF on left, BLF on right):
Interestingly, the engravings on the two lights are oriented in opposite directions (is that the right description?) Looking at the picture below, you can see that when both lights are placed with the tail switches facing the same directions, one engraving is upside down:
And finally, the beamshots. As expected, the SF with its Cree emitter, appears cooler in color temperature on the left. It also has a more pronounced hotspot, compared to the Nichia. The Cree also seems a little brighter. Both lights were powered with Fujitsu LSDs: