To me, watt ratings only means that the manufacturer is pushing an obsolete product, their marketing department haven't got the faintest clue what they're talking about, or both....
Rating LEDs in watt only had a meaning when there was a rat's race of making more light by pumping more current through the LED. In those days, a 5 watt LED would be brighter than a 3 watt LED. That route was abandoned for the quest of more efficient LED (1 watt LED latest generation being brighter than old generation 5 watt LED... and with 1/5th of the power consumption, the run time is 5 times longer...).
Dive ratings are a completely different animal than "waterproof" flashlights. A dive light has to cope with substantial water pressure. Most waterproof flashlights can take a quick dunk in a pond or a long period in the rain, but take it down to 10 meters and the pressure on the outside is 2 bar (2000 hPa) versus 1 bar (1000 hPa) on the inside... with that kind of pressure difference, water WILL be forced through unless the light has been purpose built to withstand it.
Likewise, explosion rating will exclude most of the lights at the market today....
I like the original list, but it is out of reach with current technology. There is still a choice between
- Long run time
- Bright as heck
- Small
Pick 2, but not all 3.
What you CAN get is either something with multiple levels. Say a less than 5 lumens low with absurdly long run times. This is more than enough for most close proximity tasks. And a 20 lumens "working" level light for the time period suggested. 20 lumens is plenty for most things in the outdoors and brighter than many old fashioned incandescent flashlights, but it is not enough for spotting things at the 100-150 yard range. You need a third level for that. used continuously you're somewhere close to 2 hour run time on this setting, but if you only use the maximum for short bursts you can have very long run times.
So... that leaves you with either long run time, functional "working light" levels and skipping the "long range, bright as heck" part of the requirements,
OR going for a 3-mode light, using the highest setting in brief bursts,
OR skipping part of your run time requirements,
or just carrying more spare batteries...