I just bought this headlight. after some simple research I couldn't find a better light for the price.
Amazon.com: NiteRider Lumina 700 USB Rechargeable Bike Light: Sports & Outdoors
found a great review and enjoyed seeing that the measured brightness was giving away only 8 lumens from the advertised brightness.
Review: NiteRider Lumina 700 | Mountain Bike Review
I haven't actually used it since it was delivered just yesterday, but it was pretty damn bright when I took it out after dark last night.
I have a pretty simple tail light. I think it runs on a couple watch batteries. I have a feeling that will be upgraded over the next couple months.