I have the rainbow strobes and they do cut down the amount of light, but I've upgraded the bulbs which helps. I dont ride around in the dark much, and when I do, I usually bang on full beam. I'm always getting other bikers commenting on how good the rainbow effect is, when I'm commuting into London.
Either the rainbow or yellow lens will cause you to stand out to cage drivers (if they look in their mirrors).
I've tried blue running (side) lights, and it looks crap. Better to install yellow/amber bulbs and wire them to the indicators
