I have the CR123 hi-power 3 snow led light. One of the things I like best about the light is that the keyring attachment unscrews so that the light is free from your keys and can stand on it's end. It makes a great little lantern when you do this. Compared to my arc AAA, this light definitely has much greater throw, but less sidespill. However, for the type of light that it is, I don't think this really matters much. It easily lights up the area in your general vicinity (a few feet) but has the advantage of shining pretty far as well (down a hall way for example, or a few feet infront of you if you're outside). My only complaint about the light is that it is a little bit fat for pocket carry. I currently am carrying it in my pocket despite this, but when the newer version of the AAA comes out (it's a little shorter than the current AAA version), then I think I'll buy one of these and keep the current light as a backup.
Hope that helps.