Many of the current crop of flash MP3 players seem to use a single alkaline or NiMH AAA cell.
Chances are you're going to use a switching regulator anyway if you want good battery life. Otherwise you're probably throwing away more than half the energy.
It's a complex comparison-- case size, styling, and battery life and often charger considerations have to be taken into account in a portable product. I don't know how much the newest small stepup converters cost in consumer production volume, but mature SMPS chips are in the 10 to 20-cent range. The newest ones could be 5 or 10 times that, even in volume.
The size of things like digital cameras, games etc. have decreased to the point where they often insist on newer types of batteries. These things are expensive to replace, and you can't take advantage of improvements in technology. My first digital camera took 4 AA cells, and I now use 2450mAh batteries in it. The first ones were 1300mAh. That's a considerable improvement (over 6 years). My more recent purchases use special Li-ion batteries. At least one company is pushing security chips to prevent the use of third-party battery packs in new designs. Li-ion cells also need a more sophisticated charger technology AFAIUI.
But compare a typical Li-ion cell-
3.7V output. 5.5mm x 34mm x 50.4mm and only 21 grams. 860mAh at 3.7V. That's almost half the thickness of a AAA cell and has about the energy storage capacity and voltage output of 3 typical AAA cells. Very tempting.
Yes, I would think it would be good. Or even a AAA*. But the little flat Li-ion batteries would be even sleeker.
- pronounced "triple-A", hence the "a".
Best regards, Spehro Pefhany