I'm surprised you are spending the extra money on the Schmidt. You can get the Shimano hub for about $80 on eBay, and a rim is pretty cheap too. The lights OTOH are not cheap. I have the B&M Cyo Premium and that cost me $110, but is now more. I couldn't be happier with it. I didn't get a rear light for this setup, but I have a Magnic Light on a very delayed order for the rear. This uses different technology than other dynamo lights and is completely self-contained. I had a prior model and it was great, but the latest is supposed to be even better.