Rechargeables are the way to go if you use the flashlights, or whatever device, often. If you store them for long periods of time, not so much. Rechargeables will self-discharge over time, even Li-Ion. For long term storage, especially for emergency use, alkalines are much better. An LED flashlight (or multiples, in my case) filled with alkalines, and with a couple of spare sets of batteries set aside just in case, is a great "emergency stash" setup. Even the really bright LED flashies will last tens of hours (sometimes hundreds) on low power, vs three or four hours for incandescents. Storage life on alkalines is a couple of years but be sure to rotate on at least a bi-annual basis just to be on the safe side.
If you want a killer good reachargeable flashlight setup it's hard to beat the rechargeable MagLite. Got one for Dad a couple years ago and it's darned impressive. It's bright enough and the beam so focuseable that it can be used for a modestly effective spotlight if needed. A little pricey though, but not bad compared to other quality flashies on the market.
Brad