It’s not my boat - and that’s the best kind of boat!
Mod is done by Mitko.
Same results out-of-the-box you can get from Olight M2X, but on higher price and dimensions.
If you want to 1 up a 3AAA light, you won't get there with some big honking light that you can't even carry/wear without the light wearing you. Also, on the water, spill will work against you like Keltex78 said. I don't know how they are these days, but the SK98 (uses an 18650) should do the job. They look pretty cool and cigar hold well too. Mod it to an XPL Hi with a DD driver and you will blast his light out of the water (sorry, couldn't resist).
Convoy l2 can be had for about that price? Mine reached 700m stock where I go rock fishing.
My vote is for the Convoy L2 with a spacer tube for batteries you already own. When money comes in you can upgrade to the bigger batteries.
The B158 would do you well. For a single 18650 light, it is hard to beat for an aspheric, and is water resistant. The point of the aspheric limiting spill is a huge thing on the water, and you also have the option to dial it back and flood the whole area as well, very useful on the dock or pulling the boat out.
The C8 is a good choice as well, but the B158 beats it for versatility in my opinion.
In case you didn’t see, a user is selling a Cometa with XPL HI.
This is a mid size aspheric lens light with some real throwing power, no modding needed.
Wow, that Cometa does look really temping. But I’m going to resist the urge, I just don’t think I’m willing to take on a new battery size. I’m lame and just want to stick with 18650. 
As has been said, if you like the Cometa you can use your 18650 cells in a light that is designed 26650 without any issues, they are the same length, the 26650 is just a little wider.
Don’t forget about some of the home depot husky / defiant lights if you don’t want to bother with 18650. Slap an xpl-hi in them and you get quite a bit of throw for cheap.
But this is BLF… And you said $45. So you should probably do the c8 and a defiant. Then put like 5 more lights on your credit card just for bragging rights.
Yeah, I know, but I also know me. I can’t do it because I feel silly using a 18650 in 26650 light, so if I buy a 26650 light,
- I “must” buy 26650 batteries, and a new charger, (money)
- and find a place to keep and organize all of them, (space)
- and make sure now I have Eneloops, 14500’s, 18650’s, AND 26650’s all sufficiently charged and maintained for the pending
Apocalypsebrief power outage. (time and effort)
So for me there is no way NOT to do the 26650. And I’m practicing self restraint and refusing to do it.
Actually, I specifically WANT 18650. For me personally 18650 is the ideal compromise and “best” battery format. I currently don’t have (or want) any AAA lights.
lol ok
Just trying to be pragmatic. I’m consciously managing my addictive personality - while buying another flashlight. Yes, my wife is fully aware of the hypocrisy.
Hey, use whatever means you have to. Just don’t expect it to work here 
I’m currently trying to convince myself that all the males on either side of the family NEED new flashlights for Christmas, and therefore I can order ALL of the lights and parts! Only some of them can be trusted with Li-Ion batteries though…
I’ve been looking at this one for those same reasons, it’s a good deal right now
That looks like a pretty good light for a filthy casual, thanks.
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(j/k, in case I’ve offended anyone who owns this light, I have a few AA lights as well. As opposed to 18650’s, AAs can easily be looted from any grocery or drug store during the zombie apocalypse.)
For muggles Defiant and Rayovac lights from local stores are actually pretty good quality, but they typically look a little cheesy with a bunch of rubber and stuff.
I keep one of these in all of my vehicles with Energizer Lithiums
If it is around $45 to $50 and single cell ONLY then I also give a vote to the Convoy or Thorfire C8 , as they are both good lights and can be modded for about your top range price , with a FET driver and dedomed XM-L2 U4 1A on Noctigon board , they are both great little throwers.
Here is the before and after on a Thorfire C8 I did the above mods to. (500 plus yards of throw after mods)
NOTE: the 175 yard shot looks a lot more green than the actual tint , as that field was extremely tall , dark green grass at the time.
The 500 yard shot shows pretty close true to life tint.
Stock 175 yards
Modded 175 yards
Modded 500 yards to Far Treeline
I have an HS 802 that I used to use for fishing in the Sacramento delta/SF bay. I’ve since grown my flashlight addiction need, and I actually prefer something small and compact. But, I don’t fish the open water anymore; I’m mainly on the American River so throw isn’t a necessity. (I take an EC11 with me)
I liked the 802 for the very reasons mentioned above - very little spill meant I could look where I wanted and avoid the glare from the water around me. Also, when it’s foggy, it was much better than dealing with all the refraction/reflection from the moisture.