I have one of those LED headlamps and it works about the same.. Red mode etc.
I've never had to change the batteries, and I've had it for a few years.
Anyways, mine has a hinge on the bottom of the mount and you can adjust the down-look angle. I think it has about 4 click-positions it will lock into.
I like it, I use it about once a week, IIRC..
Wish that I had it when I was a kid.. Did a bit of Spelunking with unreliable incandescents and carbide miner lamps..