1xAAA
ITP A3 R5 (very nice clip, no PWM) / Olight I3 R5 (don't like the non-reversible clip) / CQG S1 NW (love the tint)
1xAA
Sipik SK68/Romisen RC-29 if you like flood-to-throw, reflector based light are more versatile to me to my own surprise. (RC-29 has a sharp tail switch, which bothered me a lot, but still a very nice light)
Xeno E03 XM-L/XP-G NW (expensive, but worth the money: current controlled, no strobes, there is a Fenix clip that should fit, fits most Fenix equipmnent like diffusers etc.) / C3 SS 93mm length (way better than the alu version, but has strobes and is heavy)
I would like to recommend the Hugsby P31/P32, because they are still the most impressive value/money lights to me, but I won't because you can't be sure any more, what driver you will get. If you own 14500 and NiMH buy them anyway, I say. If you only have NiMH stay away from them.
I ordered the N-light B1 NW, but haven't received it yet, but on paper it is a nice light. I like that they included a diffuser and a metal box, no strobes, and maybe high PWM if it is the same driver as the B2S.
I ordered the Balder SE-1 XM-L, old 4570s review of the XP-E version looked nice, but unfortunately it has visible low PWM, but the price was too good to pass.
The Ultrafire H2 is an excellent alternative to the very expensive Zebralights, when you need a full-flood light (has low PWM though), useful clipped on clothes as an angle light and as a headlamp.
2XAA
Fenix E21 (my only premium light for a budget price, no strobes, bought from DD when it was $23-24... but even worth the $30 it costs normally)
186500
UF 2100 XM-L 3-mode($15) (no visible PWM on low, 1.7 A on high, but has strobes, Solarforce clips fits) or 5-mode (price range)
In general I now look for the following: cheap current controlled lights or lights with high PWM, with a sturdy clip (like the Hugsby P31/P32, Eastward YJ J09, ITP A3.....no wire thingy's!!!), neutral tint emitters, no strobes, 2 modes for AAA twisties (like the DQG Tiny II), 3 modes for AAA clickies , 3-4 modes on 1AA/2AA (like the Xeno E03/N-Light B1/Balder SE-1) on high driven XP-Gs (up to 1.4-1.5 emitter-amps) and low driven XM-Ls (below 2 emitter-amps) , 3-5 modes on 18650 XM-Ls depending on how hard they are driven.
Lights that disappointed me, after they where praised so much here (maybe I just received bad ones):
Any alu C3 (designed to fail), TrustFire R5-A3 (bad wire clip, bad output on NiMH, smooshy switch), UniqueFire AA-S1 (bad wire clip, smooshy switch, horrible yellow beam colour, lousy efficiency), Black Cat AAA (contact problems, missing O-rings), C78 (switch problems), Eastward YJ J09 1AA (wanted the 4-mode.... DX sent me the 3-mode one which is high,high,strobe... argh) , Ultrafire M5 R5 1AAA (ringy beam, bad clip, only 1-mode), UniqueFire G10 CREE XP-G R5 6-Mode (next mode problem, too many strobe modes)
I don't own any 14500s, so my view is very eneloopish. ;-)