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The edelux were on offer at Spa Cycles, maybe worth giving them a shout?
I've only used the B+M a couple of times as I now need a new BB because chainline/barends/shiftingnightmare but was pretty awesome-I went along an unlit cycle path to the nearest pub a few miles away and the difference between battery operated regular LED cree style lights and the flood/intensity you get from the dynamo is fantastic, felt like it could have been a motorbike headlight so I'm happy and it will charge all my gubbins too :D
Not heard anything about water ingress-the only thing I don't like is the plastic case and the metal bracket to mount it to the frame feels a bit vulnerable. I'm pretty sure if there was a crash or any kind of lateral impact it would just sheer off where the mount joins the plastic.
I just got the SP-8 laced to Sputnik rim with B+M lights/gubbins for £240 all in from Spa Cycles... best deal around by far and unlike the edelux can be used to charge your smartphone/gps via USB too. Ordered on Wednesday and delivered today-pretty chuffed!