That's my daily commuter light, the best beam pattern I've ever seen on a bike headlight -- when I get around to spring maintenance I'll be upgrading the E3 on my Schmidt dynohub to a Philips.

The low-power setting on the battery model is enough for unlit roads/trails at 20mph, and for most city riding; the high-power setting is more than I need except when I'm facing a lot of oncoming car traffic and need to fill in deep shadows. The cutoff is clean enough that it's not blinding to oncoming traffic on the trail or road, and it keeps more of the light down where it's actually useful -- the Philips on 400 lumens puts as much useful light on the road as most 1000-lumen lights.