I've tried many, many, many headlamps over the years and none are as good as the new 3 Watt LED Headlamps. These new headlamps use a LUXEON LED - which is MUCH MUCH brighter than other LED headlamps.
I own the Princeton Tec Apex LED Headlamp. It is FABULOUS for cross country skiing, snowshoeing, running and hiking at night. I would use this on my bike too if they had a way to mount it on your helmet, but they don't. It's a little less bright than would be optimal for mountain biking.
The Petzl Myo XP LED Headlamp is another 3 Watt LED Headlamp which I suspect is also good, but I haven't tried it.
Don't bother wasting your money on cheaper headlamps!
For Mountain Biking
Coming Soon... I'm trying to find a 5W Luxeon LED model that can be mounted on my handlebars or helmet. I actually bought a tiny 5W Luxeon LED flashlight which I thought I could strap on my helmet, but the beam - although incredibly strong and bright, is very narrow so I can't recommend that yet.
"I learned about the strength you can get from a close family life. I learned to keep going, even in bad times. I learned not to despair, even when my world was falling apart. I learned that there are no free lunches. And I learned the value of hard work." - Lee Iacocca