Yes. I have a very good one wheel driven dynamo, actually I used it on my front wheel. Personally, I find 2.4-3 watt light a dynamo can power insufficient for my 9-mile commute in the dark every morning year round. Others may be satisfied with it. I am not. I like 35 watts of light and would go for 50, but battery size starts to get out of hand. I don't have a problem with a battery up to 9 lbs, but I don't want anything larger.
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If it ain't broke, mess with it anyway!