I've two "ultrafire" branded Cree Q5 torches. I wanted them for night time running because of the tiny size. The first one I got was single-mode only. It draws over 1A from a freshly charged 14500 cell. Both current and brightness decrease rather quickly, giving useable light for 20 minutes max. That is why I got the 3-mode one which seems to have a much better driver circuit, taking 0.8A on high and 170mA on low settings.
The low setting is ok for running and lasts long enough for me. That light was just under 2 AU$. The single mode I bought earlier was 10€ with two 14500s and a dual charger.
The charger isn't really trustworthy, as are the cells. I only charge them in the garage on the concrete floor.
I also only charge one cell at a time: The two charging slots are wired in parallel, i.e. the two positive and both of the negative terminals of the slots are directly connected, so if the two cells in the charger are at different levels, a charging current will flow between the two cells - and I don't trust the "protected" label of the cells either.
All in all I totally like the little torches. They are really bright for their size and affordable but there are a few caveats if you buy cheap. Apart from that: spot the difference. (see pic)
EDIT: Typos