[OPINION=ON]
Like the OP, I am sometimes confused by an oncoming blinking light if that's all I can see. As a result, I use both a solid and blinking light on both the front and rear. I have the front lights on the handlebars and the rear lights on the rack, ie, both about waist height, not that different from the height of car lights.
I saw a cyclist with a single solid bright light on their helmet and again was confused a bit because the light was so high and it was moving about (as the cyclist's head turned). I can certainly understand the need for a helmet light in unlit unmarked areas so that as you look around, you can see around you but on the road with traffic and street lights, bike-mounted lights should be sufficient.
I have a fair bit of reflective tape etc on my bike and me and my gear so that, in addition to the lights, I can be seen and, better than lights, my profile is discernible.
To a certain extent, I would rather use reflective tape than lights because I'd rather be seen as a reflective human on a reflective bike than floating lights in the blackness of the night.
[OPINION=OFF]