I've modded a couple of the 3W ones to run off battery packs (to mount on helmet) – it was about a year ago though, so apologies if description isn't quite accurate (in theory would be fine though!)
What you need is:
Wire – twice as much to run from your desired mounting position to wherever you want to put the battery pack.
A battery pack – I use 3*AA Cells for rechareable batterys – explained in more detail later. about £2 for 5 inc postage off ebay
Battery snaps – bits of wire with a connection on the end to fix to the battery pack. again a couple of quid for half a dozen on ebay
If I remember correctly, the torch splits into 3 pieces, the bit with the LED in which i'll call the head unit, the bit which holds the battery (battery tube) and the end cap switch bit.
You want to ditch the battery tube bit – it's bulky and makes the torch long and unwieldy (for a bike light that is!)
At this point you may want to play about with the head unit and the battery to make sure you know which part of the metal is positive and negative!
Effectively, you can then push the head unit and the switch bit together and it will fit fairly snuggly.
I then cut a small hole (with a hacksaw – which was much more time consuming than I imagined it would be) out of the head unit, it needs to be big enough for a couple of pieces of wire to fit through once the 2 parts are pushed together.
You then need to solder the wire onto the appropriate part at the back of the head unit.
I seem to remember one bit was fairly easy to solder as there was a big enough gap to solder onto.
The other wasnt so easy. I had to bend and trim the battery spring on the switch bit so that it would touch the other connector once the two bits were pushed together. This then enabled me to solder the wire to the springy bit.
Once that was done you can wire a battery pack to it and make sure it works before you glue the two parts together. I used araldyte and haven't had any problems yet. I also used a lump of miliput over the hole which helps to keep the wires in place and to waterproof the hole.
You can then solder on the battery tab and connect to battery.
As for batterys they are designed to work off 2*AA which run at 3 volts. Rechargeable batterys run at only 1.2v so if you are running the torch off of rechargeables it is not running at full capacity. Without knowing the technical details, you can run the torch off 3 rechargeables (3.6v) without many problems, you will be overdrivin the torch, but I haven't had any problems doing that.
Hopefully provides enough description if you fancy a go.