I just bought a $40 Sanyo hub, and will be using it with an off-the-shelf $10 4W LED bulb from Dealextreme. I made my own rectifier with smoother cap, it puts out around 300 lumens (give or take 20) and while it's not as bright as my 2-bulb setup, it has proven to give enough light to commute in total darkness for me (I don't go faster than 20MPH, ever, and there's no hills here).