I did a lot of research looking for an all round light that would be good on the road, and I ended up with a Cateye Volt 1200 for exactly that budget, after doing a little shopping around.
I’ve been really pleased with it to be honest. Sturdily built. Good battery life. Never any need for full power on the road. Has pulse mode, which is constant interrupted by pulsing light. Brighter than my Cree torches, with a whiter light and better beam pattern.
A couple of negative comments about the light were that it goes into flashing mode when going from full power (it doesn’t – it only goes into flashing mode when pressing the button twice quickly. Scroll through the modes slowly and you never lose a constant light source). And some people said the mounts were weak, but I’ve not experienced this at all in a year of use.