I've been testing a bike equipped with dual Blackburn VOYAGER 2.0 FRONT lights

The specs are:
• 3 Super-bright LEDs
• Easily mounts to any handlebar
• 65hr steady, 130hr flashing runtimes
• 3 AAA Batteries included

For the price ($20 approx) this thing easily outperforms anything else I've found on the market in the same pricerange and Blackburn backs it with a lifetime warranty. Even better - a combination of two is EXTREMELY effective and still doesn't break the bank.
The only criticism I might make is that like most consumer lights - this one isn't waterproof.