A lot of people have, like KM, gotten standard driving lights and swapped out bulbs - you can even swap out LED MR16 bulbs if you wanted to reduce the draw on your bike.
A good solution for visibility is to upgrade the headlight to a silverstar or a phillips, add a LED tail light from clear alternatives (to reduce the draw), and add two low power lights to the front for visibility.
A lot of people subscribe to the "triangle of light" idea - a headlight and two lower, wider lights (fork mounted) will let oncoming drivers "see" the distance of the bike better than if they were just looking at a single point of white light.
I'm spending most of my time on a GSX650F nowadays and I have mounted two of the 3W guys from here: http://www.plasmaled.com/high_power_module.htm
on the forks. Being kinda cheep I clamped them on with electrical hangers - $3 at lowes?
I have no affiliation with the sellers - just wanted to say I am completely satisfied. The lights are visible in sunlight and *very* visible in dim/dark conditions. They add some fill to the roadway as well, but dont' give you much beyond, say 20 feet in front of the bike. So they're actually very helpful for slow riding on broken surfaces (parking lots/driveways) but won't give you useful light for driving/braking at speed.
The draw is minimal and they're 100 waterproof.
Thought I'd list 'em as an option. The walmart light route is probably $20 for the lights, and $10? for the replacement bulbs.