I was having some trouble with the photos, so I am sorry if they do not come through well.

The tail light has a quick release switch, so I can take it off before I fold up the bike. It is a little inconvenient, but I think it is well worth the extra few seconds.
The front light presented a bit more of a challenge, but I am very pleased with how it turned out.

It works really well having the small light down there above the wheel, because I can spread the light over the riding surface about ten feet in front of me. This way I have time to react if I see a large hole/bump. The light also still rotates when I turn, just as it would if it were on top of the handlebars.
Folding works quite well with this small of a light as well, because if you put the light right over the wheel, it pretty much fits in the gap between the front post and the gearbox.

Or, what I am doing most of the time, is just turning the light to face out when I fold it, and it gives you that extra half an inch of folding. The light easily moves because it is just attached with the elastic band.

I am contemplating my next modifications...hmm...