Maglite has updated their relatively popular line of 2 x AA LED flashlights. Most notable, the new model (SP22?) features an electronic switch, which allows users to operate the flashlight at 100% power, 25% power, blink, or S.O.S. modes. According to the product packaging, the LED outputs 69 lumens, and the battery runtime is 18 hours on high, 31 hours on low.
Pricing at about $20-22 seems to be comparable with the first generation of 2 x AA LED Maglites.
Note: If you look for these online or in-store, make sure that the packaging looks like the one pictured above.