@Vatra
I agree if you are running it at 430 lumens you only get 45 minutes out of a cr123.. that would end up being some expensive walks!
I suppose this is a mid 2015 light though. Almost 2 years old!
You are right. Even on CR123 you get 40 hours on 1 lumen mode which is super short even for 2015. Quark Mini 123 R5 which is, If I can recall correctly, a 2012 light and it puts out 3 lumens for 150 hours. Maratac AA rev 1, produced around the same time did 1.5 lumens for 100 hours. And that is on AA battery. So...