I just made a headlight for mine, but I haven't tried it out yet since I need to make a mount. It's using a 6 volt lantern battery and I have it running off 4 AAA batteries in series. It seems like it will be bright enough to work, and I think the bulb only pulls about .5 amp of current. Once I get some rechargeable batteries it should work really well, and it cost me maybe $2 to make since I used stuff I had laying around.
I made it from the business end of a flashlight with a broke switch, the bulb and switch from a 6v lantern, and a small, plastic folgers coffee jar. The $2 came from a couple AAA battery holders from Radio Shack. The spirit of MacGuyver must have possessed me when I made it

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Edit: And to stay on topic

That light wold probably be just fine for being seen, but I don't know how good it would be for seeing the road.