Regarding cheap headlamps vs the EOS ... I wouldn't trade my EOS for SIX cheap headlamps. No way!

I guess I don't understand how you'd lose it. Are you whitewater kayaking at night?

I still have my original EOS purchased quite a few years back and lots of camping nights ago. It was always either in my pack, in my pocket, or on my head. Works as good now as the day I got it. Even the elastic is still in great shape (was one of my worries back then).