Kreisler! Why did you have to show me that? I’m so tempted to buy it.
Do you happen to remember how long of runtime you have in low on the Sipik 3-mode clones on a fresh nimh cell?
Mini Maglite Pro is single-mode, regulated and works on regular alkaline or NiMH AAs. It is available at Home Depot for $23. The Pro+ version has a Low option accessed by turning on the light while pointing it at the ground. Doesn’t get much more simple or brighter than these.
Im a very polite person, so I’ll refrain from saying what you should do. Have a nice day 
Could this be mounted with XM-L with stock reflector?
Just to keep you informed :
-I tryed a few flashlight and for now could not find the one I was looking for. One definitively important point is that it must have a constant current driver !
-Before I could find the one I need, I start using a few $2 flashlights (http://www.fasttech.com/products/1699/10000824/1070300-pocket-3w-led-flashlight) which are not powerful enough for most use, but still allows you to go outdoor to check for a few thing or grab something in the car. And for $2 a piece, I could buy 5 of them (making them $1.69) and the “where is that damn flashlight” problem is now solved
-Since I would still need some cheap and more powerful flashlight, I might give one of those a try :
*5 mode C3 for $13 : http://www.fasttech.com/products/1699/10000598/1057100-ultrafire-c3-q5-5-mode-led-flashlight-with-extensi
*1 mode C3 for $10 : http://www.fasttech.com/products/1699/10000598/1057101
If 1 mode is enough for me, does the 1 mode driver have any cons ? (like bot being constant current driver or having poor efficiency ?)
Do you know if the included driver would be happy with 3xAA nimh if I add a second extension tube ?
Thank you,
eliott.
Don't know if you are still looking for suggestions but since no-one seems to have mentioned it, the Balder SE-1 is a pretty nice little light for AA use.
Runs brighter/longer with the extension tube for 2AAs and supposed to be OK with a single 14500.
I also have a very nice, solid, Dereelight Javelin (XP-E) which I like a lot but it might be a over your budget. It will run with an extension tube for 3AA use.
Edit: spelling
I bought a C3 single mode a few months back, my wife liked it so much she bummed it off me, so of course, I had to get another for myself!.
I also really liked it so I now have a SS version on order, I know some forumers report switch problems, but we haven’t had any.
Good on a AA, very good on 14500!.
@elliot: I have to warn you a bit about the C3s, their track records are not so great. There seems to be a big fluctuation in quality out there. The Tank007 566 or 568 i might be a better option
@Thrills: Yeah probably, I never tried to unscrew the pill assembly though so I can't be sure, but there is a visible PWM on low on the N3, so for me it is not worth the effort of modding it. I have way too many 2AA lights that are better than the N3 (Fenix E21/Klarus P2A got them for ~$27 on a sale back in the day) , but if you are hellbent to stay under $20 (the OP asked for a real budget light) then they are one of the best 2AA options out there that I know of. The N3 is also 1x123 battery capable. The P3 might be a little easier to mod since the pill comes out easily, but it's only a 1-mode light, but it is one of the few 2AA side clickies. I have a 606 on the way from FT. I might be able to tell you a bit more concerning built quality and output in comparison to the Romisens when it arrives.
Have just made the happy discovery that the tailcaps from a few crappy “police” lights also fit the C3 and work OK.
Solid little lite
Well at least they fit ..And it's nice to know if you buy the c3 extension for the sk68 .. you're gonna need a tail cap ,,,sadly the cheap blf delights are pretty much .. carp.
there has always been reports of flickering c3 lights .. the SS were not as susceptible of it
I didn’t need a tailcap, I just used the SK68 tailcap. The extension goes on backwards if you look at how it goes on a C3. Then, the SK68 tailcap fits right in the end of the C3 extension. Worked for me just fine. I suppose no all SK68’s have the same threads. I’ve tried two different ones, both work the same for me.