A Mini Mag-Lite® is cheap and practical. If you get a Nite-Ize headband you have a headlamp and torch for about 20 bucks! I know it's probably not the best but it's cheap, easy to find and practical, it comes with a nylon sheath, you can upgrade the bulb to LED later, it has O-rings (waterproof), stores an extra bulb inside, spare bulbs are widely available, it's a twist-on (with adjustable beam) flashlight so that it will not accidentaly turn on in a pack, it has a lanyard hole and comes in red color at Wal-Mart.

Frankie