I followed Fenring's advice and decided on an Ultrafire WF008 for my .22 and a Solarforce Pro 1 for my .223.
I also ordered a bunch of mounts and batteries and chargers from Deal Extreme at the same time, pretty sure it cost me about $50 all up.
Bang for buck you can't beat the WF008, they are a great value torch. The Pro1 steps it up in quality and performance but is still great value for money.
Couldn't be happier with them, and they easily out perform a lot of the more expensive torches on the market.
Since getting mine another 3 mates have bought WF008's from deal extreme and none of us have had any problems.
I also bought a couple of LED head torches off ebay, they where $8 each including shipping. Perfect for walking around and they are focusable and waterproof.
One word of warning though, Dealextreme are not the quickest to ship. Even though some of the stuff I ordered was in stock, it still took up to a month for them to ship everything.