An interesting idea.
 

One way to deal with the constant chatter about blinding others with a bike light. Never seen one but it sounds interesting.

ZhiShunjia ZSJ-B2 1800lm Neutral White 2-LED 4-mode High / Low Beam Bike Headlamp - Black - Free Shipping - DealExtreme

That is interesting, but haters are still gonna hate.

True.

Keeping the output under 500 lumens is less blinding. :D

Nice optimism, but I have my doubts that folks would remember to dim. I get blinded by enough cars driving around w/brights on. <eek!> These discussions about the use of (IMHO) excessively bright lights reminds me of the back-and-forth (to refer to it nicely) about driving w/fog lights on all the time that goes on in some car forums... :)

Nice idea.
Price isn't bad.

With the rubber band attachment with my current light, I just tap it forward to aim downward to "dim". Then I pull it back up when I want distance again.

I know many people don't like bright lights, but I'd rather see a pedestrian or biker without lights before I run over them than not. A brief lapse of attention and one is 50 feet down the bike path. While a dim light might be sufficient to see obstacles, it is only if one always has the ideal look-ahead.

My goal is to aim the center of the light near the horizon. The problem is that it bleeds upwards too much. Specialized, and perhaps other brands have designed bright lights to direct the majority fo the beam forward, but below eye level.

Nice!

I live where we have great BIG dogs that run out in front of you fairly often. We call them moose and bears. I buy and install the very brightest bulbs I can get and don't care what anyone says. You ever see what a moose can do to a 18 wheeler?
Cheers,
David in Alaska