I don't think LED technology is improving *exponentially* but it is definitely improving a lot (more on a linear path than exponential though). If it were exponential, if we had Wal-Mart blinkies one year and 1 watt LEDs the next year, within 5 years we would have aircraft landing lights and the year after that we'd have blinkies the power of the sun.
Point taken though. I got the Nova Bull because it was relatively cheap and I'd had my eye on them for years.
I would really like something with a 4 watt amber driver with a good flash mode. heck, there's no reason I can't make it myself, it's just a microcontroller. I'll have to pick up some drivers and start playing around.
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Work: the 8 hours that separates bike rides.