I've been using Tiny Flashlight + LED by Nikolay Ananiev, and it's my fave so far. Has lots of silly little options, but it comes with a great widget that you can just set on your homescreen to turn the LED on and off. Droidlight you have to open the app and it take like 3 seconds for the light to turn on. The downside to this Tiny Flashlight app is that if you use the actual app, closing it does not turn the light off like Droidlight does. the widget is GREAT though.