EDIT: This post will be updated many, many times as I’ve decided to pin it to my signature and will update it whenever I have more measured data or more experience with other lights.
I love this kind of question because it forces me to think about what is most useful and what is most fun in this hobby for me. Two lights is not enough and life is short so I really need to have 4. And were I to start new today they would be as followed. (EDIT: please don’t be surprised if there are changes in this list. Mistakes discovered, knowledge improves, opinions change, etc.)
1 Convoy M21H with Nichia 219b 4500K (M21H host replacing S21D host) HERE. For me, Nichia 219b 4500k is the gold standard for top-notch CRI and color rendition, that all other LED’s should be compared to. 219b sw45k makes colors “pop” like no other LED, inparticular the red tone of for example, red bougainvilla. IMHO it is THE first light to buy for hobbyists who care about color accuracy. Please note this is a floody light, better for work around the house than say, search function.
EDIT: Convoy M21H is preferred beause of 3 features not found in the older S21D: side switch, on-board USB-C charging, and good thermal regulation in Turbo mode (S21D gets too hot in Turbo mode). With Nichia 219b 4500k as an option, M21H is a great alternative to S21D. Pls see review.
2. Two Firefly models - both the "perfect"walk light: E04 Surge w/ FFL505A 4000k Rosy and Fireflly X1L Elite w/ FFL707A 5000k. On arrival these Firefly instantly became my most beautiful and well thought-out lights. Everywhere I look, there are premium components and thorough attention to details. Lume-1 or Lume x1 drivers, magnetic USB cover, captive clip, button with perfect feel and travel, beautiful & functional knurling and cooling fins, are all features I consider best among all the lights I have. These “rosy” Firefly LEDs have the distinction of not only surviving an A:B shootout against 219b 4500k (nearly all other LEDs don’t), but also managing to make 219b look a little whitish/sterile in comparison (it’s not “better,” just different). The “rosy” versions of each LED have among the most negative Duv’s that I have measured in my various tint-snob lights. They have a pleasantly warm color rendition, but not yellowish warm like 519a, more like beautiful pink-rosy warm. Outside of cost, each is a jewel of a light and recommended without reservation. These Fireflies replace Convoy M21E with GT-FC40 4500k as my new favorite walk lights.
3. Wurkkos TS30S with SBT90.2 HERE. In some hobbies, car, photography, stereo, etc., once in a while a product, whether by luck (kidding) or by talent, hits that magical perfection level. This humble $60 light is such a unicorn and has proven to be a FORMIDABLE competitor to all the newer lights in my collection. The Wurkkos rocks my Opple meter by clocking 1 km throw (holy macaroni), and outputs a cool 4500 plus lm on Turbo, meaning fantastic brightness. That all of this is in a smallish form that fits jacket pocket is the magic of modern LED and flashlight technology. The beam profile is “balanced”: some super throwers have an extremely bright hotspot but little to no spill, resulting in a very narrow field of vision, the Wurkkos OTOH strikes a perfect balance between good-size hotspot (throw) and good-brightness spill (flood) click here. I use this light often during my evening walk and the beam is an absolute thing of beauty: a bright central beam piercing darkness like a light saber. Turbo as expected in ALL lights without active cooling, is not going to last long. In my use case, light is at Turbo-1 or T-2 level, then switched to Turbo when I need to look for safety reason (coyotes, not-well-meaning people, etc.). The beam color at ~5100K is very nicely warm (as opposed to harsh flat blue) and has a green tint that I forgive in a super-thrower LED. As OCD picky as I am, the green tint is not a hindrance in actual use. Nothing on the market comes close, not at 60 bucks.
4. Budget “super-lights” - Wurkkos TS32 with 12 Nichia 519a and SFT40 HERE. The 15000 lumen of TS32 Nichia 519a goodness is UNLIKE anything I’ve ever seen. It has a golden creamy (meaning not too yellow) tone and is so very very bright and floody (why it’s often described as “wall of light”). Note that this 519a 5000k is most beautiful in Turbo mode; the lower brightness has some green tint and more positive Duv. In the context of comparing against these other 15000 lm super-lights, it has very clearly the most beautiful warm-colored wall-of-light, with the best color rendering as a result of its 98 CRI. 519a 5000k is less yellow than 519a 4500k, and I welcome this change. Combining twelve hot 519a’s with the throwy, cool, bright SST40 central LED is an ingenious move, a result of this light being born and bred in BLF by hobbyists. The 519a stepdowns very quickly so I would suggest to use light with SST40 throw on Turbo or high, and 519a only on medium, with occasional burst of Turbo for the ultimate OMG Nichia hit.
A couple other lights that I love:
Convoy M21E or M21F with Getian GT-FC40 4500k HERE. The only bright medium-range thrower on the market with Nichia-like color quality, and perhaps more useful than similar size Nichia lights because of much better brightness and throw (324 m per my measurement). This is the all around every day light and the perfect gift light because it does so many things so well. Getian GT-FC40 has fantastic high CRI beam color that no doubt imitates Nichia in real life viewing. The tint is between 219a and 519a, but more towards 519a’s sunset yellow than 219b’s rosy tint. My own M21E sporting Duv of –0.0064, closer to the legendary Nichia than any other throwy LED in existence. The M21F has a smaller head (fits pocket easier) and has a balanced beam between flood and throw, whereas M21E has more throw (324m M21E vs 276m M21F) but less flood, and is slightly bigger. Either is a big winner with no competition as a walk light IMvHO 
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Tint lottery (variation of Duv) might be a problem with this LED. I have two M21E’s with identical GT-FC40 4500k LED, the first one bought in 3/2022 has perfect Duv and Nichia-like tint, the second one bought in 10/2024 has greenish tint, noticeably worse than the first one.
Nightwatch Super Valkyrie with Chinese LED SFP55.2 This is the brightest single LED single cell flashlight on the market. It’s a stupendously bright light and a “collector’s item” because nothing like it exists at this price and who knows how long it’s going to be in stock. Check my “review” because this thing has many odd behaviors, like you have to click button for it to begin charging. Unfortunately it’s available only on Neals Gadgets web site, with which I truly have a love-hate relationship 
(51% love for offering unique lights, 49% hate for good-luck-you’ll-be-ignored if the item doesn’t work). My measurements: Output 13090 lm (!), throw 676 m, CRI 6700, CRI 71, Duv @ Turbo -0.0002, T-1 0.0011.
