I have one of these, mainly for use on an air rifle/.22 rimfire at night. It has a fairly tight spotlight and I can see bunnies out to 60-75 yards with the spot. It's perfect around a farmyard for ratting.
They're a bargain for that, or for watching wildlife at night. I will use mine badger-watching as well when the opportunity arises. The only problem is that the tailswitch has a loud click. I also bought a pressure switch for the torch.
I don't think it's good as a bike light. Too bright, and simply too vicious to motorists.
It's also a lot larger than a standard 3-led aa light, which I think is a better light to get you seen without dazzling.