In Puget Sound, I think can lights are safety items. Honestly, keeping track of buddies and staying in communication in low viz is so greatly enhanced by high intensity, focused lights, that I no longer understand how anybody dives under our conditions without them.
In the Caribbean, it's harder to defend. Lights serve little or no signaling purpose, because they simply don't carry through clear water in bright daylight. However, I have spotted many small creatures in holes or even on walls, where the ambient light at depth was reduced enough that my HID light gave me the contrast to let something stand out that I wouldn't otherwise have seen. You need a very bright and intense light to be of any use in the daytime in clear, daylit water.