Not money no object, but IMO the best combination.
Magicshine MJ-818 rear light, works off the same 8.4V batteries as most front lights. Can’t be angled, but it bright enough to be visible from behind and iluminates the rear wheel and the road behind the bike so it’s really visible, especialy in rain or fog, you could always sugru a wedge to angle it horisontaly if you wanted to blind drivers!
Combine that with a £2.99 silicone LED light from decathlon or any bike shop, mine fits perfectly in the rearmost vent on my helmet pointing back. I think it makes a huge difference to how visible cyclits are in traffic, and makes it obvious when they’re looking to turn as even in the pitch dark you can see their head moving. That and it humanises you rather than looking at a bike the drivers looking at the person on it, certainly feels like I get more space when overtaken and less road rage aimed at me.
I’m not a fan of lights on backpacks, they never seem to be pointing the right way, always covered in crud etc.