See this thread.
http://www.bikeforums.net/showthread...ights-any-good
I went with some Romisen lights from shiningbeam.com. The Fenix lights are (very likely) to be better made but at 2.5 the cost. shiningbeam is in the US, which means avoiding the dealextreme/Hong-Kong shipping delay).
Oh, the newer Fenix LD20+ (with the R4 LED) appears to have a smooth reflector. The alternative is an "orange peel" reflector which reduces the hot spot.
The Ultrafire C3 (and the Ultrafire WF-606A) uses the Cree P4 LED and the C2 uses the Q5. The later letters in the Cree LEDs mean brighter for the same input power. (There some confusion about which lights you are talking about).
If you want comments about particular lights, post links to them. That way, people don't have to figure out which ones you are talking about.