I have a couple of L&M lights -- Urban 500 and Rando 500. While they're reliable, compact and bright enough, they don't appear to be serviceable in any way. And the rubber band mounts tend to break after about a year. I had to switch to a Two-Fish velcro type light mount for my Urban 500, but the battery won't hold a charge anymore. The Rando 500 is going on two years old, the strap is still good, but the runtime is greatly diminished now and probably won't last another year.
I've mostly switched to NiteRider headlights, which are very comparable, a bit bulkier, but seem to be accessible for replacing the rechargeable batteries. And the Lumina Dual LED 1800 is outstanding, with a beam broad enough to cover typical two-lane rural highways edge to edge, and a lens that helps distribute the beam evenly and cut off the top to avoid blinding oncoming traffic. I checked out the L&M dual LED lights and they weren't really comparable. In the same price range the NiteRider is a better value.