Treehugger just posted this cool video of a dynamo powered hub lighting system. You’ll look like a character from Tron with this set up:

A similar idea is being posited by Revolights the main difference is that this product is designed to mimic the traditional white/red – front/back illumination scheme.

Both are cool, and I hope they hit the streets soon. In the case of the Revolights project there is a link to their kickstarter page so you can donate to the product development if you want to.