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genuine head torch not a torch as such, batteries on the head band at the back, bright as possible, hr+ runtime
to use when outside, riding, walking, going to the pub etc
Alpkit gamma something or other.
Got one for Chrimbo - excellent bit of kit and only £12.50.
Oh just noticed the pub bit - it also has a red led at the back (knightrider flat style) to stop you getting run over from behind on the way back.
I would use an Alpkit Gamma for everything except riding
http://www.alpkit.com/gamma
Lasts ages and great for walking as it has a little rear red light
For riding I use this
http://www.dealextreme.com/p/t6-assault-crown-waterproof-xml-t6-3-mode-1200-lumen-white-led-bike-light-with-battery-pack-set-82508
alpkit gamma for everything but I wouldn't want to rely on it for anything other than slow riding as it does not compare with modern bike lights at all.
I'm looking at getting a Petzl Myo RXP. It should be bright enough for walking/running etc, not sure about cycling
Fenix HP10 (225 lumins on high setting) is worth a look, £50 I think. I use mine for MTB, mountaineering, camping and other stuff. battery pack is a bit big, but it needs all them batterys for the power I expect.
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The Alpkit Gamma's are good, for night running and riding I use a Black Diamond Icon. Bly the cheapest but cracking features, brightness and battery life.
Alpkit Gamma.
I asked for an alpkit gamma for my birthday, and I saw a parcel from alpkit yesterday! woop!