Like most others, if I had to choose it would be a back light. Most nights I wouldn't get far through these Welsh hills without a good front light as well. I do long distances through them at night, so it has to be a dynamo light.
This subject gets me on one of my hobby horses; the cycle lighting laws and supplies in the UK are a scandalous shambles.
For one thing, I think that any light sold in a cycle shop and any light sold with attachments for cycle fitting should legally have to be type approved for cycle lighting. Shockingly this counts out nearly all lights currently sold in the UK.
Personally I think we should adopt (with one exception) the German cycle lighting laws. These are a well thought out evidence based series of laws, which are consistently applied. They include specific requirements for beam patterns and brightness. The exception that I mentioned is flashing rear lights. Although it is very well authenticated by research concerning the brain physiology of our visual perception system and also by road traffic research that a light flashing full on and full off at between 60 and 250 flashes/minute will attract our attention most. The German laws although acknowledging this, prefer to reserve flashing lights on moving vehicles for emergency services only.
In the UK you are allowed to use a light flashing in this way - as long as it has no other light function or is an additional light.
Accordingly I carry both a flashing and a steady rear light.
Additionally I think the laws on what reflectors are carried where, should, as with other road vehicles be specified and type approved. The miscellaneous hotch potch of reflectors that cycle luggage manufacturers and cycling "shiny bits" suppliers come up with mean that it is not always easy to see at a glance whether a cycle is coming, going or is about to launch for the moon. Yet this is important for quick subliminal assessment of a vehicle's direction and speed.
If I remember correctly the UN guidelines on this are the clearest and most categorical: Red ONLY to the rear White ONLY to the front and Orange/Amber ONLY to the side.
Lights and reflectors to these specifications can most easily and cheaply be obtained from European cycle suppliers such as "Rose cycles" of Germany or "Dutch bike bits" where you will find them listed under "Parts" and not "Accessories" - which says it all really.
Rant over.....