If you want to keep inexpensive but good, check out the Gerber Infinity Ultra at
www.EDCDepot.com, one of our banner sponsors. The Gerber is less than half what you want to spend and is brighter than the incandescent MiniMag, with only a single AA. I think it's on par with the MiniMag LED but I don't have one of those so I can't be certain.
The Victorinox 2AA LED is quite powerful- much more than the MiniMags with the LED conversion, although I don't know how well they compare to the factory LEDs. You can get those at a great price from Felinevet at
www.felinevet.sosakonline.com and while you are at it, maybe grab a few SAKs too!
See my comparison of the 2AA Vic versus a couple of Mag Upgrades here:
http://www.sosakonline.com/index.php?option=com_content&task=view&id=122&Itemid=35You could also check into the Fenix brand of lights- I was very impressed with the L1P which is now discontinued. Many folks rave about how good the Fenix lights are, so that would probably be a good place to start.
Nuwaii also seems to have a pretty good rep, but I have never used one of those so I can't say one way or the other.
I hope this helps. I don;t know much about flashlights, but I knows what I likes!
Def