Just take a look at the runtime and the batteries. Anything that runs 30 hours on three AAA cells is a very weak light. The MagicShine couldn't run 15 minutes on 3 AAA cells.

If you're attracted to the simplicity of a one-piece rig rather than the wires of the Magicshine, take a look at P7 flashlights. About as bright as the MagicShine, a little cheaper. Nowhere near the runtime since they mostly use a single 18650 cell when the MS has 4, but that may not be an issue for you. And they're guaranteed waterproof, and come off the bike in 3 seconds if you need to take it off to avoid theft.