Here's some quick advice. Check your state/federal laws as to see if riding a bike with a flashing light is even permitted.

Here in California, a bicycle is classified as a vehicle, and thus cannot have flashing lights on the front of the bike. This is the part where I'm supposed to insert the state/federal code, but while I'm on my phone it's not something I'm going to bother with.

State and federal law prohibits flashing lights on bicycles.

Trust me on this.

If I had to choose strobe or steady, strobe it is. I want to be see. On the rode, and something strobing is more likely to catch my attention then a steady light. Depending on where you're at, a steady light can just blend in with the rest of the lights around you, where a strobe feature will help you stand out.