Prior to buying a Fellows Nuclear Flash, I stuck a Cree in an oldham. It is a very useful lamp.
You need to think what whack you get for your watt.
Get a nice led, or fog up the lens with some grease to mellow it a bit.
Personally, I think the name of the game is being able to see as well as possible, wherever you may arrive.
Hence, ideally you need something which is capable of providing longevity, whilst being able to light big holes up.
If I was in your shoes, I would be asking myself what single LED I could put in an oldham.
This is the way to go. IMO Either that, or fork out for a fellows.