I've been using an Energizer 3 LED headlight for a while now but I've just been looking at the energizer website and there a few other interesting models that may be worth checking out.
The Advanced Pro 7 Led looks interesting, water resistant to IEC 60529 IPX4 standard and with a multi position switch which is better IMO than a single switch to cycle through.
£19.99 seems like a good price.
Energizer Advanced Pro 7 LED, Batterycity. co. uk