To be clear, I think reflective gear + a solid red light and one flashing red light is the ideal solution. I would hope everybody driving after dark has their headlights on. The lights allow them to locate you and the reflective gear (a belt + ankle bands) make it easy for them to identify you as a cyclist. I use a Specialized Flux Expert headlight so I look more like a motorcycle to oncoming traffic. This is just my opinion having driven around seeing these various solutions in action. As far as the wheel lights I've seen them on slow speed bikes but I'm not a fan for quicker bikes. I think drawing too much attention to yourself can actually be more dangerous.