I got hold of an Overton's catalog and they sell small ( 1x1.5 inch ) bow lights that are Coast Guard rated along with the corresponding stern lights. $14 and $8 respectively.

They also listed the clip-on type, red and amber, I think they are for bass boat. $14

I'll probably go with the clip on, since its both are really 'styled' for powerboats. If I installed the permanate lights I would definitely paint them flat black so they match the rest of my boats hardware. The clip-ons could reside under my spray skirt until needed, or until the white boats with the red stripes could near. :) Being able to wave them about also has its adventages.

P.S. If you don't like mail order I saw the same thing at, get this, Kmart :)