@unsound Feedback improves DF = lowers output impedance = less variability with output voltage. :)
Output impedance can be thought of as a resistor at the outputs of the amplifier. With a perfect amplifier, this resistor is zero, and the voltage at the speaker is always the voltage at the amp.
However, amplifiers are not perfect. Batteries are like this too. Looking at a AA battery, you model it as a 1.5V source, but in reality it has a rather large output resistance. So whether your flashlight sees 1V or 1.3V has to do with how much current is drawn and how big that output impedance is.
The more old-school your flashlight, the more current, and the more V will be lost in the output impedance. But modern LED bulbs sip current, so most of the batterie's V will appear at the LED terminals.
Confused yet? :)
Erik