Another option when considering flashlights is some kind of a power bank with a flashlight attachment. Many of these are respectable lights and they can recharge your various other electronic devices like GPS, etc.

Actually, I don't think there is one do-it-all light. At a minimum I prefer a good headlamp, a variable lumen handheld that can be extremely bright, and a small key chain type for various odd tasks (like changing the batteries in the other two lights). The traditional rule for caving was three lights and that has worked for me both in caves and at night for a long time. With today's batteries, the weight of three such lights isn't much at all.