I have the Light and Motion Stella, which has been serving me well. It uses 4 AA batteries. That makes it easy to carry spare fresh batteries along, or worst case, fresh batteries are as close as the next convenience store.
That said, the battery life doesn't seem to be as long as advertised, but I'd say I get somewhere around 4 hours from a set of batteries. If you buy batteries in bulk, that's still fairly inexpensive. And of course I recycle the spent batteries properly.
The one issue I'm having with the Stella is that the rubber mounting strap is starting to show cracks, so I'm expecting it to fail eventually, at which point I'll have to engineer a replacment mounting system.
My concern with rechargable batteries is that they have a finite life, and when the time comes to replace it, if it's even available, I'll bet it will cost as much as or more than a new light.