Recommendations for a new bike light (2x18650?)

Thanks to the input from this forum, I have been happily using my Ultrafire C2 (XM-L T6, 1x18650) as a bike light for about two years. But one always wants more, so I’ve been thinking about an upgrade…

I prefer a torch over bicycle lights that are fixed with a rubber band.

Would multiple emitter lights such as 3 x Cree XM-L2 or 4xCree be a good choice? Would they compare favorably to similar bicycle lights which use a 4x18650 battery back? I have seen some of those in action and they are a lot brighter than my current torch.

I just chose these examples by a quick search - please tell me if you have more suitable alternatives in mind.

If I go for a torch, would a 2x18650 provide a lot more compared to 1x18650 in terms of light output? I’m happy to use 2x18650 if that’s the case. I hardly ever need the torch for more than 60-90 minutes and can carry spare batteries if needed.

Budget would be about $50 excluding batteries.