I got one of these in silver years ago:
http://www.flashlightreviews.com/reviews/nuwai_tm-311h_2aaa.htm

It was about $18 at Target.

After roughly four years of entirely reliable and satisfactory service it is still kicking.

Up side is it is $30 cheaper (you could buy three if you include S&H) and slight more compact. Otherwise they are functionally equivalent. Minus the label and bragging rights, of course.

For the price of the Fenix I can buy a perfectly good light, compass, and knife. It is a question of how much you value your money and how careful you are with it.

George Carlin was right - it is all about money. What you do with money; what you do for money.