Super flashlight - Coast LED Lenser P14 High Performance LED Flashlight HP8414 - 172 Lumens, 4 x AA, Speed-Focus

This is probably the best overall flashlight that I've ever used. Tightly focused beam has a long throw. Less focused beam has nice spill. Low and high settings are useful for a variety of situations. I keep it in the truck for finding cattle at night. It's a fine light.
Pros: compact, bright, focusable, AA batteries
Cons: can't think of any

This review was written in the old system and had content requirements that are different than reviews written today.