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the alpkit gamma has a 1w main beam + a red/green/white at the front (the red flashes) and a red static/ flashing on the rear battery pack. £12.50 inc duracell batteries and postage it is a complete bargain. I use mine when running at night and it isn't too heavy
+1 for the Alpkit Gamma - works so I can see and so people can see me.
I normally run with a backpack too - and thats usually got one of the cheap Aldi reflective bands hanging on the back - they've got flashing LEDs on too - and you get 4 bands for about £4 or so. Excellent for visibility.
I used to do more night running that I do currently, and have a Petzl Tikka Plus2 for the front, and a Petzl Signal flashing red light for the back.
They're both very light, and I find the beam bright enough for me to see where I'm putting my feet, and I'm fairly sure it's bright enough to make me visible as well.
I also really like having a flashing light on my back........ and the Signal light is great as I can wear it around a cap, or clip it around my waist, or attach it to a backpack.....
I've just bought a secong Alpkit Gamma cos the first was so bloody good value for money.
I usually have the main beam on flash mode when running on the unlit roads and approaching cars do slow down and give me a wide berth. The constant main beam is plenty bright for me running through the park in the dark.
If you add excellent speedy customer service to the great piece of kit and top value for money you've got a Best Buy.
BTW I bought the Gamma because I've lost my Petzl Tikka+ <sheds a tear>. I bloody loved that torch. 3 batteries a year and I used it most mornings. But I wouldn't bother with another now I've got the Gamma.
For the use you're describing (being seen), my pick would be the Petzl Tikka -- it's rock solid reliable.
For brighter needs, I love my Petzl Myo RXP (which is approximately in the same category as the LED Lenser H7 and the Fenix HP10).
More conversation in this thread (including the very interesting notion of a sternum strap light):