THANK YOU for all the great suggestions, will try a bunch of stuff and report back.
I had read that Widget Locker drains the battery quite a lot though, have you found that to be the case on the S3?
So far I was using brightest flashlight free from lock screen, but it opens the app, I basically want to stay on the locksreen for toggling on/off.
LED genius concept is nice, but I'm afraid it will keep opening in my pocket when I shake my hips
(seriously, I'm already using shaking to silence the wonderful eCID app when it is speaking)
I've a bunch of stuff to investigate thanks to you all! Cheers!