I don't know that light, but the description says it has three modes and no memory.
I'm guessing you weren't impressed with your SK68 because you were using an alkaline in it. You may like it more if you put a 14500 in it...
Alkalines are probably what you want for your mother and grandmother. And while you may not be happy with them, they might be. I would suggest you try a light that is intended only for AA cells because the AA driver may be more efficient than a 14500 capable driver that is fed with an AA.
1.5 volt lights just don't compare well with 3.7 volt lights, as Werner explained above. They are handicapped to begin with, so finding one that impresses for less than $10 may be difficult.
My only suggestion is to increase your budget and look for a 2xAA light.
Edit: This thread has a similar topic.