As stated in other lighting threads, get the best lighting system that your bicycling budget will allow. When my budget gave the nod, I bought a 10watt HID lighting system, and I'm definitely spoiled to the point of not returning to the previous lighting systems as my main lighting source.

I just switched from an HID to LED. The HID gave out eventually (the bulbs don't last forever) - 3 years ago when I bought it, it was definitely the right choice. Now you can get LEDs that put out about the same amount of light for about the same money, and the LEDs are much more versatile (many power settings, strobe modes, etc) and should last a lot longer. Also they should get longer runtime for the same amount of battery, they're a bit more efficient.

I checked out some of the LED lights available, and it seems that their beam are too narrow for what I want as compared to the HID light that I have now. I do like the run time and longevity of the LED lights, but for now I'll have to find a good used LED lighting system for sale, or check out another commuter's LED system before I make a final decision on which one I would prefer.
I do run a lower power LED light as a backup as well as for stobe for a certain intersection on my commute, with the HID light the LED strobe seems no longer neccesary. but I will still use as a precautionary measure.

Apparently L&M have discontinued HID lights and gone all-LED. That probably says something.

Narrow beam is a design problem, not a problem with the technology.

you can get most dinotte lights in narrow flood beams.

I like my Niterider Tri-newt. I also like my Dinotte 300r tail light. I would like to trial a Dinotte headlight, but since I have enough lumens with the trinewt, I can't justify the expense. Maybe next year.

https://www.dealextreme.com/details.dx/sku.13060 500 lumens for <$50. Will last an hour on high (500 lumens), and 3 hours on medium (250 lumens).

The best headlights under $50 thread

https://www.bikeforums.net/electronics-lighting-gadgets/435347-best-headlights-under-50-thread.html

Currently I use the following on the rear

Cateye LD610R mounted on the rack. (Flashing)
Cateye something mounted on the seatpost (Solid)
Smart superflash mounted on the rack. (Flashing)

On the front I use a
Fenix LD20 mounted with a lockblock (solid)
Smart 3 LED in flashing mode

I usually wear a hi-vis vest and have reflective material on the sides of the mudguards. Since I've done this I've had very few occasions where people haven't noticed me immediately. As a real plus at least two drivers have complained that the rear lights are distracting and very bright.

A front generator hub is really the best option if you are serious about lighting and can afford it.

There's been plenty of discussion on this on other threads such as the long-distance thread. I notice someone posted a photo of the chronometro nob (or whatever it's called) These are a good choice for fork mounting. There are lots of options offered by Peter White, for instance.

I've got a couple of pages that touch on lighting -- here and (photo) here.. Please, no front blinkies.

I don't agree with this. Sure, on a 2 lane road in the dark of night, it would be uncool to be blinking 400 watts at someone. But, when I'm riding at 3 in the afternoon, a front blinkie is perfect for getting a little attention to ensure people don't turn in front of you.

+1,000,000 on the dynohub (wish I could afford one myself). Why worry about batteries when you can power your own lights?

If the dynohub option is too much, there are bottle generators that are much more affordable, but can pose some problems in wet/snowy conditions. Check out Peter White's website.