I highly recommend Bikeradar for product reviews. It would seem that LED technology has come a long way recently and that lights are mostly LED these days.

Magicshine MJ-872 ($185) 720 RMB on Taobao

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"An impressively broadbeamed, trail friendly set-up at a bargain price"

Revolution Vision Hi Power Front Light ($32)

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"Solid, durable and waterproof – and a lot of light for the price..."