Important Update: After testing a second unit, I can no longer recommend this product as a bike light. The trouble is that the flashlight popped out of its container whenever I rode over a curb. The problem seems to be the weight of the flashlight. One positive note — the Cree flashlight itself proved to be quite durable — it still works after several high velocity falls on to concrete. It survived with a few nicks on its aluminum alloy casing.
I’ve been testing an inexpensive option for a bike light. It’s basically a Cree Q5 LED Flashlight with an included bike mount, which sells for $20. The flashlight itself is great — it shines at 240 lumen on the high setting (160 lumens on the lower setting, and there is also a flash mode). To compare, the best selling Beamer 3 by Planet Bike, produces just 45 lumens. The Cree’s 240 lumens are produced by a single LED, and it has a range of about 1/8 mile (660 feet). The flashlight uses three AAA batteries, and I found my rechargeable Eneloop AAAs to work quite well with it.
The bike mount worked reasonable well in my tests — the flashlight stayed firm while I went over curbs and down grassy knolls. But certainly the flashlight clamp could be tighter and bit less flimsy. I also had to insert some rubber tubing to get the holder to fit my handlebars. Overall a its good deal, if you are willing to do some tightening of the holder on occasion.