A NiteRider Minewt 600 cordless is now on sale for $100 at my school's LBS (PDX.edu's Bike Hub). If I didn't have one already, I'd snap that up in a New York minute.

My belief is that you always go with the brightest (rechargeable) light you can afford as a primary light, and then have a battery powered backup as a fall back (oops, forgot to recharge or other problem) and you won't be the guy riding a bike with a firefly in a fireworks display kind of rider.