i got the new cateye 5 light LED and it is BRIGHT!!! i haven't had the chance to try it at night yet, but i cut it on at the store and i was VERY impressed. honestly, it isn't as bright at my niterider, but then again it's about $100 cheeper. so if you're just buzzin around town and don't need anything sophisticated, i would say use this one. i only paid $35 for mine. the only drawback is that it's about the size of an electric shaver, but i mounted mine under my handlebars and don't even notice it. i'll let you know tonight how well it works in the dark...
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ps: do NOT shine it in your eyes!