That's OK for a circuit of that efficiency and its simple to build - 
but for commercial use one would hope for a figures of over 80% and 
preferably approaching 90%. One can hope :-)

If efficiency is too low then a linear regulator with more batteries 
can be a better proposition. Not an option in my case.

    Russell

> Here is a circuit claiming 65% efficiency:
>
> http://elm-chan.org/works/led2/report.html

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