I have the red and the white version of the rear tail light superflash along with some of these other knock offs I picked up at pricepoint.

I was browsing around REI's outlet area and found what appears to be REI's version of the planet bike superflash for $9 with free shipping.

Front and Rear Light set $15
Avenir Panorama Half-Watt Front and Rear Bike Light Set - 2011 Closeout - Free Shipping at REI-OUTLET.com

Rear Light $9
Avenir Panorama Half-Watt Rear Bike Light - 2011 Closeout - Free Shipping at REI-OUTLET.com

These are listed as half watt LED lights just like the superflash. Looking closely at the pictures they resemble these from pricepoint
Sette ST-316 Glo Safety Light at Price Point

Free shipping really sweetens the deal...that has to be worth a savings of $6-$10 depending on where you're ordering from.