It's hard to quantify a chemistry as better or worse. It actually depends on the situation.
In low drain applications, the lithiums have no advantage over standard alkalines. Examples include the Gerber IU and remote controls.
In high drain applications, lithiums have a huge advantage over alkalines. Examples include digital cameras, high-power flashlights, and GPS units.
Alkaline cells slowly drop off in voltage as they get used. Lithium cells continue to put out nearly full voltage until they are nearly dead, and then they quickly lose voltage. This is especially noticeable in older film-based cameras with flash: the more shots you take with flash with alkalines, the longer the flash takes to charge. On lithium cells, the flash charges very quickly until the batteries need replacing. The way the voltage drops on a cell as it is discharged is known as the discharge curve.
Alkalines are not very good in high-drain applications. They "bounce back" slowly (the phenomenon where an alkaline will seem to be almost dead until you shut off the appliance and turn it on awhile later) and cannot sustain high loads for long periods of time.
In flashlights, we often measure runtime until the light dims to 50% of the full output. In tests such as these, the lithiums will have a very big advantage due to their discharge curve, at least in the higher powered flashlights. If you measure runtime to 10% of the full output (as the ANSI/NEMA FL1 standard states), alkalines will often have a big advantage (especially in partially or unregulated lights), since they gradually drop in brightness over time.
Compare these three discharge graphs, provided by Selfbuilt, a popular reviewer on CPF:
Keep in mind that this is a HIGH DRAIN application and all of the lights here have output regulation circuitry. Note that the regulators struggle to maintain a high output on the alkalines.
(As a side note, if you want to see how a fully regulated vs. an unregulated light performs on alkalines:
regulated and
unregulated. Keep in mind that the regulated light in this example starts out nearly twice as bright (1200 lux vs. 650 lux). The regulated light in this example is a particularly fine example because once the regulator cannot maintain full voltage it drops smoothly into an unregulated mode, which ensures that you are not left abruptly in the dark.)
As you can see, lithiums (L91) have a great runtime. But also note that good NiMH cells (in this case, Sanyo Eneloop brand) perform very well and are rechargeable. Which brings me to my next point.
In AA and AAA form factors, if you plan on going through a lot of batteries, a good quality NiMH (or an LSD NiMH if you plan to store the gadget for awhile) will save you a lot of money and perform nearly as well as the expensive disposable lithiums.