My EDC light is a Surefire E2e with an L4 head (5W LED, 65 lumens) and an Aleph 2-stage tailcap from Lighthound. With the 2 stage tailcap the flashlight is usable for everyday things without a) blinding you (it's TOO bright!) and b) worrying about chewing through those expensive lithium batteries.
Other lights I use are an Inova X1 for carry when space is tight (shorts in the summer, etc), a mini-maglight with a Niteize LED conversion (bright and the batteries last over 10 hours) is frequenly used when "working on" something like computers or cars, and then there's the good 'ol 4D mag light which still finds use.
I'm drooling over that Fenix posted above though, that looks very nice!