Yes, I have my Nite ize - converted minimag here and it will work in candle mode just as ducktapeguy describes. I was at Wally World today and (very purposefully) stopped to look at the AA LED Mini Maglites: I wasn't really impressed. There was no lanyard hole on the tailcap! I for one demand a lanyard hole on a flashlight, its a quirk of mine. They were longer as described, the ones holding 3 AA batteries were too big and out of the question. The focusing of the beam feature was handy.

But the price is too steep for me. I could see going from $8.88 incandescent to maybe as much as 10 bucks more. But costing over 23 bucks? Nope, too steep. They are going to make money off of the brand name for now and the fact that they are LEDs. Hope that don't last forever.