Still on my pursuit of lantern alternative - I did a low-ball bid on this:
even though it says "Vander", the same looking light is also sold as UltraFire and possibly others.
It came as a "kit with 18650 battery and charger - and I manage to get it for $3.06 shipped (US vendor)
So this is cheaper than the ReadyFlex and other cheap lanterns -
in this one case it came with battery - rechargeable too.
It is labelled as 3000mAh - on test it is only 1022mAh - but it works, just lower capacity than the label.
Being a bigger 18650 light it is 5 modes - with the bigger LED -
BUT this had a very long reset back to High - in the order of possibly hours,
so it may as well have been next mode "no" memory.
It was a prime candidate for the pencil mod.
This light was relatively easy to take apart and access the board -
it looked similar to the other one I'd seen -
so it was easy to locate the capacitor.
Two pencil lines and the light did not seem to reset, in anything in reasonable time.
So added more pencil lines to about 5 in total.
This time on test it would reset in about 4-5 secs.
However there is a difference - in less than 4-5 secs but more than 1 sec - the light comes on with the last mode - which was rather nice.
Perhaps a little less pencil lines could extend the last mode period before reset back to High?
Its widest setting is just wider than the UltraFire SK98 (also 18650) -
so the wide flood coverage is better, and it will focus/zoom to a tight spot showing image of the LED die.
With the pencil mod even as is, this has become a really good candidate for a lantern alternative..
and it was cheaper (although the price is probably an anomaly)