Last fall I bought a Cateye HL-EL350. All I can say is... meh. It's okay, but I wouldn't want to rely on it while going down a dark trail. I wanted a light without an external battery pack, and it fits that bill nicely. It uses 4 AA batteries, and of course I use rechargeables. I mounted it on the fork crown and it gives definition to potholes, so it's sufficient for my city commute. It only has one mode... steady.

My backup light is a PB Blaze 1W. It sure is an attention getter on its SuperFlash mode, but there's no way I'd rely on it to see by. Combined with my Cateye I think I'm sufficiently lit up to "be seen", but I often feel that things could be brighter to "see by".

I also use one of these front-facing and one of these rear-facing button battery lights on my helmet. I buy them by the dozen because I often end up giving them away to cyclists that I encounter who lack lights. Better than nothing, and makes them legal.

Ideally I would like to replace my Cateye with a dynohub and a nice light to take its place on the fork crown, and I'd still use the handlebar-mounted PB for a backup blinkie.