Dustin,
My first keychain light was a Photon. It is a decent light with a few limitations. I do not like the exposed LED. Mine cracked and the input plummeted. It had to be retired.
The Inova microlight has been a better solution for me. The LED has much greater protection, so I don't worry about damage. The momentary switch on the Inova seems a bit better. The full "on" switch on the Inova is superior to the Photon IMHO.
The Inova I have does not have the microprocessor chip for various lighting modes. I hope they still have the basic model available. The multiple lighting modes seems a bit gimicky and is just another component waiting to fail. KISS.
I ditched the big metal clip for a smaller split ring on the Inova.
I plan on picking up another keychain light tonight. If Target still sells the basic model Inova, that will be my choice.
Good luck, TR