Is there a Good low cost AR weapon light + pressure switch combo

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The HLX is really king in the budget scout mount territory, but it is heavier than the SF variant and has reportedly had switch issues. You can mitigate that by ensuring that you get the latest generation (there's a tab on the pressure switch) or buying the SF switch adapter. Alternatively, you can always send it back to SL for warranty if the breaks and they'll replace it with the newer styel. That being said, I haven't had a problem with mine granted I haven't put it through abuse yet. I did opt for the Arisaka MLOK mount vs using the 1913 + rail section to reduce bulk.

I do have SF scouts and mini scouts. They are lighter and more slim. Worth the money is up to you. I have yet to try the Arisaka custom builds, Malkoff, or Modlite variants, but I will at some point.