It depends, of course, on the nature of your riding, your eyes, and what you consider to be "value".

My night riding is commuting in the city. Night-blindness runs in my family and it's hit me pretty hard. And I don't have a problem with spending money so I can see. My glasses have $720 lenses.

Last year I tried the 900 lumen MagicShine headlight. I was amazed and pleased. It's sufficient light for me to see at my cruising speed of 17-19. It's large enough and bright enough that drivers and peds treat me as traffic, not as "some guy on a bike". Some people balk at the triple-digit price. Compared to many "real" headlights, the MagicShine is a real bargain.

I liked the MagicShine so well that this year I bought two more. If I put two on one bike, I can run them at medium and have a nice, broad flat field of view. (Younger riders seem to need only one light at medium.) But the idea was for each of the bikes I typically commute on to have its own MagicShine, and they do. When there's only one on a bike, I have to run it on high.