A lot has changed since 2007. You can buy these mounts for the Cygolite Hypershot:

Same thing for Niterider

You can either bolt them onto the vertical tang on back of the racks, or if you have a basket you can bolt the mount to the basket (You'll need a flat piece of metal on the other side)
Here is one mounted to my Wald steel rack
BTW if you are not using the Cygolite Hypershot 350 you are wrong.