I ride with at least one blinking red in the back. The blinking makes a difference in getting you noticed. I've got stacks of them, Cateye, Niterider, Novara. IMHO they're all about the same and should be about $10 or so and use a single AA or AAA battery. I sometimes run one on the bike and another on my backpack or Timbuk2 bag. It's not really possible to have too many blinkies.
Depending on the condition the front light will vary. Most typically is a Niterider MiNewt on my helmet. Bright enough to actually see but not so bright as to be irritating to on coming traffic. The one I have has a built-in USB port to recharge it, this is uber convenient.
If I'm pub commuting in town, I just use a to-be-seen front light, a AA Maglite, a blinking white forward light, etc. This is within areas with street lights since I prefer not to ruin my night vision. Away from street lights it's usually the MiNewt of another 3W Cree headlight I made that uses a bottle cage battery.
"Stand your ground. Don't fire unless fired upon, but if they mean to have a war, let it begin here." -- Capt. John Parker