I vote for the Gamma as well. As good as torches 3 times the price. The red flashing light on the back gets the odd funny look when running on Southampton Common, though
Personally I'd spend some of my wedge on a Petzl Zipka: I have never regretted the things that cost me a lot of money; only those purchases of products that turned out to be cheap copies!
W.E. Demming summed it up thus: "the bitter taste of poor quality remains long after the sweetness of paying the lowest price"
DON'T get the Mammut S-Flex! Was given one for b'day recently (SWMBO couldn't source an XP2), terrible design flaw in that the front of the torch is a clear plastic box to allow the red leds to shine through.
However, when i say 'box' i mean 'prism', in that the light from the main beam is refracted though said prism and bounces out all over, especially down and back. Into your eyes!
If you take the torch off your head and point it stright up, at the sky, (at night) you can see the amount of light BELOW the torch.
Not good. Took it back and got a Lenser H7 for less than the Mammut, from Go-Outdoors.