Lets take a good look at those (US) stats from 2007 that were referenced: 50% of FATAL crashes involved other vehicles. Of those 50% FATAL accidents involving another vehicle, 78% were head-on. That works out to 39% of all FATAL accidents (if my math is correct) were head-on accidents. What about all the other accidents where the rider WASN'T killed? How many accidents were motorcycles being hit from behind? Can't say from those stats. They only tell us that we "might" get killed if we are involved in a head-on crash with another vehicle. Based on those stats, we should all have super bright head lights (which I have), wear airbag vests and ride on deserted roads. Statistics is all about manipulating data to get the result you want, regardless of the whole truth.
LED bulbs offer greater reliability compared to incandescent bulbs due to the fact that they have many LED's for each bulb as compared to 1 or 2 filaments. So if an individual LED fails, it isn't a big deal, the light just isn't as bright. If a filament fails, the light is out. That "fail-safe" characteristic has to be a valid safety concern. The reduced power consumption is an added bonus on our bikes, especially if ridden in stop-and-go traffic.
I have a vest that I wear in poor weather conditions. It is black mesh with hi-vis yellow and silver reflective stripes. I've been told that it is very visible day or night and does not appear to be similar to traffic pylons or construction workers, both of which are typically stationary.