I have these lights:
http://www.ebay.co.uk/itm//191433012079
They're very good for the price but I use them as spots to help the pitiful main beam rather than as running lights.
I'm with Chris on the visibility thing if they're not going to see you, they're not going to see you - it's up to us to be vigilant - unfortunately.
As to loud pipes, save lives I tend to think that "loud pipes, make people think you're a ****".
Oh, yes whilst I'm having an old man moan - why are a lot of bikes running on main beam? It doesn't make you more visible it just means no-one can accurately judge how fast you're going (and also making them think you're a ****...)