For the most part, no. The AA batteries are just hard pressed to compete with the 123A batteries for high output solutions.

There are some 4xAA lights like the UK Mini Q40 and PT Tec 40 that provide about half of the output of the SF 2x123A light. The beam quality isn't nearly as good either. On the other hand, the light is almost industrutable and is inexpensive. There are also LED versions of these lights, but they have quite a bit less output. On the upside, they are even more industructable and have huge runtimes.

The only bright AA light that I know of is the PT Surge. It uses 8xAA. I understand it is a little bit finicky. It sounds like it is more likely to blow bulbs than many lights. I suspect this makes sence considering a slight variance in voltage times eight can add up. Too bad this light isn't regulated. Perhaps it would be possible to retrofit it with one of Willie Hunt's voltage regulators (LVR)?

One light that I would consider in your situation tho is the Streamlight Jr Luxeon. This light is just a bit longer than a MiniMag and is regulated (good use of poor cells) and is fairly bright. The output is good, it has a nice floody beam and is small enough for most uses (the 4xAA form factor isn't huge, but it isn't tiny either). Streamlight Lux Jr review.

Another good AA light is the Gerber Infinity. While it doesn't output a ton of light, it is very small, very sturdy, waterproof, it outputs a very reasonable amount of light and has great runtimes. In many cases this is enough light for most tasks. There is an older version (left) of this light which is arguably more robust than the new version (middle) as well as a "government" version (right) called thet Ultra-G which is the old version, but with green HA3 coating (I think). Picture. You might be able to find these on Ebay or on CPF BST.

-john