If you want got get a decent light for a low price, get them straight from China at a place line DealExtreme.com. I've got a few and it's amazing what you can get for $10 to $40 that cost well over $100 if you buy the same Chinese flashlight from some importer.
Hey red, you should see if you can make a dirt bike head light with 3 or 4 high output LEDs. If you can make one, for not too high a price and have it be able to run on AC and DC you could make some serious cash(high output LED's+low overall power pull for the light would draw allot of people).
hmm i think i will... possibly try and build a helmet light too but i havn't really checked to see whats on the market, i'm thinking something that'll clip to your visor... what do you think more of a spot or flood style?