Edit: See post 113 before buying this light!
Bought this Led spot light at Lowe's for $39. It's rechargeable, is compact (it's body is about the size of my hand), waterproof (it floats beam up), has a bright beam for a small light and has adjustable intensity to save power. The on/off adjustment system looks like a potential weak link to me, but user reviews are good. A nice addition to my boat.
Shop Stanley Waterproof LED Spotlight Flashlight at Lowes.com
BTW: This thread has proved useful and popular. Having just reviewed it again, I agree with early posts that called for a product review forum. It would be even more useful. Categories could include: Tools, Paints, Cleaning products, Electronics, Lighting, etc. The pages of this thread should provide a useful guide.