Looks good. What is the wattage of the LED? what deg spread is it?
I really like the idea of LEDs but they seem a bit to spead out in coverage for my liking. I am currently using a 35watt 10deg spot lamp with a 5ah 14.4 nicad battery. Had it down to 48meters with out incident but then also had it down to 43m and the plastic lens went concave and smashed the bulb. Didnt leak though. Need a thicker lens.
http://www.caralarms.co.nz/Dive%20light.htm