I tested the e+lite (using a light meter) when it first came out and while it's fine for camping it's only adequate for hiking for a very short while, with a fresh set of batteries. Reason being the output isn't regulated and the batteries can't maintain illumination, meaning light intensity drops from the moment its switched on. It's bright enough for "real" navigation for a scant few minutes.

The "e" stands for emergency in Petzlspeak. Better than nothing, but only just. Now some folks have excellent night vision and can navigate distinct trails with no light at all. For you, the e+lite might be just fine--switch it on just to check a junction then off until you next need it. Use it first in red mode to preserve your night vision. Nobody should presume you can navigate with it for an hour because in that time it fades to a small fraction of the initial output.

What of overcast nights or forested trails that lack star and moonlight?. What of typical crummy and confusing Sierra trails? For those there's no substitute for a "real" headlamp. I've settled on the Petzl Tikka series with LiIon rechargeable cells. They have enough output, beam configuration, length of operation and even programmability to meet all my needs. They're also waterproof and I carry a charger to keep them topped off during long trips, giving them unlimited run time.

Beyond the OP's budget, but Tikka models with replaceable cells might sneak in under that amount. They're good too.

Cheers,