In my pretty limited experience, the cheap lights just suck - weak light, sloppy patterns, poor mounting mechanisms. In my yout' I put driving lights on a couple of my cars, and it wasn't until I got a name-my-own-price deal on a set of high-end Carella (sp?) lights (I paid $25 instead of $150) did I understand the difference. I was never anywhere near happy with any of the cheap lights.

If you are going to do front-and-back lights, I would also suggest mounting one light on each side of the basket. I saw a big ol' K5 Blazer in Yosemite with that set-up, and WOW does it help light up your environs when you are camping or off-roading at night!