If you calculate using current per hour as a unit measure for energy then runtimes are exaggerated and unscientific, reason for which often runtimes are exaggerated by cheap manufacturers, you need to calculate based on energy available and input energy, amps are not a unit of measure for power, they are only half of the deal you need volts too . Also my calculation clearly add losses and I totally understand how the circuitry works.
It should be 750OTF Lumens for 8.8hours
For instance the Nitecore TM16 (4 of 18650) is rated 6 hours for 680 lumens maybe abit too optimistic. but anyway for 700lumen and 4*18650 that is the runtime ballpark.
Again:
You have around 11W of energy per cell, that is 44W available.
For UI2 "Mid1" the output current is 0.5A at 8.4V (2.8V per LED) that is 4.2W add some 10-15% losses, that is around 5W input power, now that is around 8.8 hours of runtime based on 44W available power.