That light you linked to does have some good reviews, but I would go in another direction.
I have seen and heard good things about the cateye EL 320. Seems to fit your requirements and costs about the same money. To get any better you would have to make a quantum leap in price and go to external battery packs.
As for tail lights... The planet bike super-flash seems very popular and bright. I've ridden behind a couple. Another good model is the cateye LD 600 or 610. Also very bright. You can find these cheap enough online. I would buy two and mount one on each seat stay.