It's more than your budget, but I'm still amazed by my Fenix LD01 (AAA, 77 lumens on high). I was at a Cub Scout event a couple weekends ago and we needed to light a stage with flashlights. My little EDC keychain light out-threw almost every other light I saw and it kept running through the whole program.

I originally carried an Arc AAA-P which is about 10 lumens. While it was enough light in most circumstances, I switched to the higher-powered Fenix after I had to go from bright sunlight into an almost completely dark building. The little Arc wasn't enough for me to see anything and I had to stop and wait until my eyes adjusted to the dark. The brighter Fenix doesn't have that problem.

I can still use it on a lower power setting if I want to, but the bright light is available if I need it. I think the default is 28 lumens, one twist takes it to 3 lumens, then a second twist takes it to 77 lumens.

This is very nearly my General Relativity Theory of Flashlights.

Yep. 90% of the time I use my lights in their lowest setting, but occasionally I need a bit more light so one or two taps on the button and I have more light -- then it's back to low.

Lots have been said about it, but I walked by a eGear pico at Dicks Sporting Goods and for $4.97 it just jumped into my cart. Score.

I've seen some of those keychains -- those are the guys who need to back-up their suspenders with a 2" belt just to keep their pants up

I have a similar set-up using a A&P Key Ring from County Comm, but I keep it secured inside my EDC backpack and I hesitate to call it a keyring since there are no keys on it.

That said, if you are inclined to keep a keychain like that, the 4Sevens Mini 123 would be a great addition.

Here is my theory of keyrings. This works for me. Whatever works for you has my blessing unless you call me because you're locked out.

I do have a CC A&P Key Ring in my BOB, containing a ring of gadgets. I call it my Technology Ring.

Each car has an associated keyring consisting of the car key, the remote control fob, and a house key (I like being able to get out of the car and already have the house key in my hand). My wife has her own key to each of our cars.

There's another keyring that's with me without regard to whether I'm driving or not. It has a Leatherman PS4, a 4Sevens ReVo in a custom leather sheath, a 4Sevens flat titanium whistle, an RFID keyfob for the office, house and office keys. In other words, in addition to a few keys, it also has my backup EDC gear -- I always have a bigger flashlight and knife, and I typically have a larger multitool as well.

I recommend Fenix E01 or Fenix E05.

In the original post, are you sure about using an AA flashlight on your key chain?

I consider AA flashlights as being too large to be key chain flashlights. If you're using an AA flashlight on a key chain, then that's not a key chain; that's a tool chain. Also, performance-wise, AA flashlights are capable of throwing light to an extent that puts them in a different conversation than AAA flashlights.

Foursevens quark mini AA has been on my key chain for about a year or so. My key chain is otherwise very minimalistic - I hate bogging down my pockets. I don't know any other AA light that would fit my size requirements.

That being said, fenix E01 is indestructable, cheap, slim and offers great runtime for an AAA light. A great combo.

After looking through some of the flashlights I would have to agree with you.

When I started this thread I didn't have much of an idea of what was out there and kind of felt out of my depth, so its been a bit of an education for me.

Note the Fenix E05 is smaller, lighter and higher performing (more lumens) than the E01. The E05 is only about $6 more on Amazon. The LD01 outperforms both of these, but is larger and considerably more expensive. However, the LD01 is more than I want to pay for a AAA flashlight. I'd rather just go with a higher performing AA flashlight that's not really for the key chain. (I have the LD10.)