Lots of people have told me that LEDs are getting more efficient much faster than people can make commercial lights. They've also told me that commercial lights have optics optimized for biking that a DIY light couldn't match. So, what I'm wondering is, which is the dominant factor? Are the availible LEDs bright enough to compete with the IQ Fly, Supernova E3, etc even without the well focused optics?
Where would you expect a DIY led light to fall in a comparison like:
(For power I'm using a XFDD hub dynamo marked as a 6V 2.4W device. I'm thinking of using something like maybe a luxeon star 45lm@350ma  unless there are better LEDs out there for this purpose)