Thank you for posting this. I am still looking for a WALD flashlight holder locally (shipping costs can be a killer) for my utility/cruiser bike.
I have used the Two-Fish light holder for a few years now and think it is a worthwhile. I originally picked it up because my bike-specific lighting was giving me problems and needed some kind of light for my rides home from work. Turns out my Wally-world flashlight was 1/3rd the weight and nearly as bright. Plus, if the flashlight's charge went out on me it was a simple matter of having an extra set of batteries in my bag (or stopping at any grocery/drug/liquor store if I didn't have any on me).