There is no way that is 600 lumens. The LEDs you are using both produce under 100 lumens per watt, and a dynamo only produces 3 watts. It can still be plenty of light, and brighter than anything I usually see.

It'll be at least another year before we can get a 600 lumen light from a dynamo. Cree is still working on it. When they do get 200 lumens per watt, it'll change the way we do lighting as these will be the most efficient lights around and will replace CFLs in the marketplace. Right now it is still somewhat of a tie.