It's a shame that you realistically need more than 10 watts for a real headlight, and the price is a little more than I would be interested in as an experiment. This is exactly the solution to the white wire problem though. I also have the new integrated CDI which I'd be concerned about having to mess with.
I will definitely try this at least once in the future. It's like adding a centrifugal clutch I guess. It's as much about improving the build as it is about enjoying a better ride.
EDIT: With an over-sized LED lamp it would look comical, but probably approach headlight functionality.