I run 2 front lights, an PlanetBike HID Alias on steady and a PlanetBike Blaze 2W LED on blinky. The steady bulb is for me to see, the blinking bulb is for me to be seen. My goal for the blinky is to make sure that turning cars (cross streets) see me and recognize me as something they may need to stop for.

When I have the blinky running on the front, I notice more cars reacting to my presence, and they're doing it earlier than without the blinky.

IMO: Run that Blinky.