I have both types, and though I do like the 'torch' type, mounting it on the bars stably has been a hassle, though it's not impossible as other ppl have proven (check out the tag to find thread with mountings). It usually involves bodging some sort of old light mounting, as none of the univeral mounting (twofish etc) really work 'that' well on the bars (are really stable & secure) when you travelling at speed. My twofish slipped while coming down a nice fast downhill, though the helmet light meant I wasn't in danger
Comparing the two type, (though I've not seen a helmet one, but am led to believe it is exactly the same as the bar one) I find the Bastid a lot flood-ier than the normal torches. So prefer my torch on my head and the bastid on the bar.
As for would two torches be overkill, well I don't believe so, I used to use two torches, now use a Bastid and a torch on my helmet (though some ppl believe 200g's is too heavy as a helmet mount). I have used just a single torch on the bar and find this not very satisfying (not the bastid, so it might be due to the normal torchs more "spot" like output), and don't get on with a single helmet mounted light (lack of perspective).
Though I do live in the "never enough light" camp - a troutie would be ace but cause a new lighting war amoungst my m8's.
Battery wise, the normal torches last at least an hour on full (no real need to run it on full when travelling down roads or tow paths), but now that they have been used for a while they definitely last longer, but I've not actually measured them time wise lately. Changing the batteries though is a 30 second job, no grieve at all.
Is that any help or does it cause more confusion?