the picture is a gif animation click on it to see.
So me and a mate managed to get hold of some powered bicycle hubs. They are basically a 3 phase alternator built into an over size axle hub. Of course you can reverse the process and instead of adding electricity to get wheel rotation, you can spin the wheel and get electricity. The 3 phase AC needs to be rectified and smoothed a little with a capacitor (3 phase is smoother than single phase however).
The light pulses because the wheel is not constantly spinning. we later figured out we had wired up the capacitor backwards.
The work continues.
The original bulb pictured was an incandescent indicator lamp from a car, essentially a tiny 12V light bulb. After some slightly energetic riding it actually burnt out, after glowing quite bright. I estimated we were able to put 21W through the setup safely thought it (by pedaling slowly in top gear) though the bike is capable of a lot more.