I have 3 headlights. I use the brightest in steady mode (Niterider classic 12v), an LED flashlight in flashing mode and save the 3rd one (generator backup) for when the other two fail. I ride on high speed arterial roads past busy shopping malls and strip malls... I want to stand out like an alien mother ship... and with all that background light... I will take any advantage I can get.
The steady headlight gives me good light to see by and gives good "see me" light, I don't even notice the flashing LED headlight except on very reflective signs... but I know that anyone looking anywhere in my direction probably sees that light. I do the same with tail lights... I have one steady, and two blinkies... one of which is a PB super flash. I'm tellin' ya if a motorist hits me and says "I didn't see you," that guy is legally blind.