I appreciate the concerns. I think, from reading the other LED "overclockers" on such blogs as Candlepower Forums, that the 30 mA issue isn't really a problem. The higher current is probably going to shorten the life of the LED, but not dramatically. Like they don't seem to be concerned about running an average of 30 mA, with substantially more current when the batteries are fresh, maybe 40 or 50 mA. The amount of time that the LED is at this higher current isn't a lot, it tapers off quickly as the batteries get 'unfresh'. In the case of the little keychain squeeze lights, they don't even use a resistor, just the battery internal resistance. :-P
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One is much better off placing an LED in series with a resistor. Make several. Place them on a pair of rails that are fed by a constant voltage source that is regulated.
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