What we are saying is that a small electronic item such as an LED torch is not big enough to pick up enough charge to damage it.
Precisely.
The EMP described in "One Second After" was produced by detonating a nuclear bomb at a very high altitude (dozens to hundreds of miles) above North America. This high-altitude EMP (or "HEMP") is the only kind of EMP that has wide-reaching effects. There are other ways of producing EMP (microwave bombs, charged capacitors, etc.), but they're all very short-range - and thus aren't of much concern to anyone who doesn't live next door to a high-value military or terrorism target where some exotic EMP bomb might be exploded. HEMP is the only kind of EMP that has a range of hundreds to thousands of miles, and thus is the only kind that is capable of directly affecting the vast majority of the American population:
EMP does its damage by inducing a very brief, high-voltage spike in electrical devices. This spike can be strong enough to burn out wiring, "punch through" the thin semiconductor layers in transistors, diodes and computer chips, or cause the software in computer-controlled devices to go haywire.
However, the strength of the electrical spike induced in any electrical device by a HEMP burst is dependent on the length and physical orientation of any conductors connected to the device. Long conductors (i.e., AC power lines, phone lines, big antennas, etc.) receive a significant amount of the EM pulse; short conductors do not. In a device which isn't connected to any long conductors, almost no electrical spike is generated due to EMP, and thus
the device is unlikely to be damaged. Most small electronic devices (i.e., cell phones, portable radios, PDAs, laptop computers, digital wristwatches,
flashlights, electronic combination locks on safes, red dot rifle sights, etc.) would fall into this category - The few inches (or fractions of an inch) of conductors present in these devices is simply too short to intercept any significant amount of the EM pulse, and thus no damaging voltage spike is generated within them.
Similarly, the short length of the wires present in most vehicles (automobiles, motorcycles, ATVs, etc.) also intercepts very little of the EM pulse - and thus, is unlikely to be damaged. Also, the wiring in most vehicles is partially shielded by the vehicle's metal body (thereby further reducing the strength of any voltage spike produced by the EMP), and all vehicle electrical systems are designed to deal with the high voltage spikes normally produced by the ignition system, motor brushes, relay and solenoid coils, etc. This combination of factors makes vehicles very resistant to HEMP.
Here's an excerpt from the
Report of the Commission to Assess the Threat to the United States from Electromagnetic Pulse (EMP) Attack, Chapter 6, Page 115:
The results demonstrated that even modern, computer-laden vehicles are unlikely to sustain any significant HEMP damage.
THINGS TO REMEMBER:
1. There are other types of EMP besides HEMP, but all of them are short-range. Consequently, HEMP is the only type that is a significant direct threat to most of the U.S. population - Unless you live next door to a high-value military or terrorism target, HEMP is probably the only kind of EMP that's capable of reaching you.
2. Most motor vehicles and portable electronic devices stand a good chance of being usable after a HEMP burst, even without taking any special precautions beforehand. However, electric power, telephone, cable TV and internet wiring is very vulnerable to HEMP damage (as are any appliances that happen to be connected to these wires when the pulse occurs). Consequently, there is no guarantee that you'll have utility power, telephone service, cable TV, cell phone or internet service for weeks, months (or even years) after a HEMP burst. Services that rely on these utilities (police, fire, ambulance, traffic signals, city water and sewer) may also be interrupted.
Additional Reading:
Federation of American Scientists: Nuclear Weapon EMP Effects
Glasstone's EMP Effects of Nuclear Weapons blog