There is detailed advice at www.candlepowerforums.com, in particular http://candlepowerforums.com/vb/showthread.php?t=96493&highlight=Apex+runtime
The OM review figures quoted for battery life (72 hrs / 150 hrs) are probably the rather meaningless figures often stated by manufacturers when light output falls below a defined, but very low, level.
The OM review refers in passing to the fact that the Apex (like the Silva L1, but unlike the Petzls) is a regulated light. "Regulated" does not mean the capacity to switch between different levels of brightness. What it means is that, for the chosen brightness, output is held more or less constant during battery depletion, until a stage when the regulation cannot be sustained, at which point the output sags. The figure in excess of an hour quoted by John is when the regulation cuts out with his batteries, using the highest brightness setting.
That said, John's "well over an hour" using NiMH does not seem to be a good figure. The above report at candlepowerforums claims that regulation (on max 3 watt output) lasts for 3½ hrs using 2500 mAh NiMH batteries. (The theoretical maximum for 4 batteries @ 2500 mAh @ 1.2 volts would be 4 hrs at 3 watts).
There is evidence that 4 AA alkaline batteries will struggle to maintain the current required to generate 3 watts. Regulated output may last for only 1 - 1½ hrs. For 3 watt output, NiMH or lithium batteries seem to be a better bet.
The OM review refers to the absence of a remote battery box, and the consequences for use at low temperatures. Certainly, alkalines are useless when it is cold. But some NiMH batteries perform well. -20 deg C is quoted by at least one manufacturer. And AA lithiums (L91) are designed for discharge down to -40 deg C.