I have a couple of princton tec pulsar IIs. They are not bad, small and bright LEDs. They were cheaper than the photons, but not water resistant, nor do they have the fancy modes of operation like the photon 3.
They work for me and at the right price.

If the LEDs are expensive where you live, get something which fits your budget. You don't have to get it if it is so expensive. The best tools are what you have on you when you need them. I'd get the maglight solitaire, its also a good torch.

Other prohibitively expensive torches like the surefire are currently not on my 'buy' list, as I currently don't see the need to have something so powerful....yet <img src="images/graemlins/grin.gif" alt="" />