In reply to erin_kish:
You'll struggle to come up with anything new in this area I suspect. The market is fairly saturated, esp if you look beyond the normal climbing brands. Might be easier to package up the best features of other torches though.
1) I like the REVOLT idea of being able to charge AAA batteries in the torch housing it's self so no additional battery charger needed and capable of recharge via solar etc whilst still able to use alkaline AAAs if need be.
2) Petzl's work range of torches have fantastic switches for use wearing gloves and mechanical lockouts to prevent accidental use. Also ability to clip directly onto a helmet, or bracket on a headband, so no faffing putting torch onto fiddly helmet clips - it'd be great to see some of that move over into the leisure range.
3) Different batteries. We're fairly stuck in the AA / AAA world, use of alternative batteries could give much better power / life but would need to be easily replaced or charged for longer trips. Running from multiple batter types may help this!
4) Reactive lighting - a great concept that has won me over for a lot of activities despite being initially very cynical of it.
5) Balance between spot and flood lighting with good quality optic beams. Plenty of cheap torches out there with impressive sounding outputs that are badly let down by terrible optics.
6) capable of being comfortably carried / used in your hand. In thick clag / snow / rain having the light source away from your eyes results in less back scatter and so better vis.
Cheers,
Stu