Igor, you're going to also have a voltage drop across the resistor/pot. How much depends on the current.
If you're running the circuit at 40mA (milliamps) then the voltage across a 100 ohm resistor will be 4.0 volts!
The formula is Volts = Current X Resistance (V=IxR or E=IR etc...)
in this case for your pot, that's .040 X 100 = 4.0 volts
At 3.0 volts, in order to get 40mA current the
total resistance of the circuit can only be 75 ohms - that includes the laser diode.
One approach to
simple supply design here would be to calculate the effective resistance of your laser diode at its operating voltage and currrent, using the above formula (Ohm's Law). Then when you get that figure you'll be able to figure out the maximum resistance of the driver circuit. It's not quite that straightforward because the LD isn't just a resistor; but in this case it will work as a rough guideline.
So, IF you have a Blu-ray LD that runs at about 4.5V and 40mA:
LD effective R = 4.5 / .040 = 112.5 ohms
If your supply voltage is 4.5 V you're not going to have any 'room' for current limiting or protection diode. Four NiMh doesn't get you much farther.
Starting with 6 volts though, or better, 7.2:
Total R can now be 7.2 / .040 = 180 ohms
Take off .6 V for the protection diode, get 6.6V, remaining R = 6.6 / .040 = 165 ohms
165 ohms (total) - 112 ohms (LD) = 53 ohms for your circuit to put out 40mA.
now you can put in a 100 ohm pot and a 10 ohm resistor with your diode and run your Blu-ray between about 30 to 54mA.
Remember - these are rough figures because of the assumption about the LD's effective resistance! You should monitor the current at first by measuring the voltage across your fixed resistor as you go. And don't forget that capacitor.
I think I got this right - Rosie the Wonder Dog is interfering with my concentration - but I'm sure any needed corrections will come swiftly!
(edited to correct errors; found none; re-instated) :