Yeah, definitely go for the P7 if runtime and batteries are no issue. This one is only $30.50 and it's worked well so far for me.
http://www.dealextreme.com/details.dx/sku.22567

One thing I like about the Romisen is the option for AA's and the runtime I can get with them as opposed to the 123A's. But it's really compact with the 123A's, about 3-1/2" long.

The lower mode is handy to extend the runtime significantly and sometimes 200 lumens is just too bright. I think it's worth the extra dollar. It's not complicated either like some multi-mode lights. It always starts in high and a tap on the clickie knocks it into low mode. Anyway, you can save the extra dollar back with the discount code.

Also, I like dealing with shiningbeam. These Romisens have been modded somewhat by them I think, (I may be wrong though, but they are a little different than at other outlets). At any rate, it seems like less of a crapshoot than DX. Plus, you won't have to wait a month for delivery.