there a drawback to going with xm-l and using lower power modes or should I be looking for xp-g?
I think the beam profile of XP-G is better suited for cycling than XM-L. XP-G will have a narrower beam, without completely lacking spill. XM-L has a lot more spill, but seems to have less throw. I believe the XM-L is the more efficient emitter, though.
I like to think of my bike lights in terms of how far ahead
in time I can see. I like to be able to see at least ten seconds ahead. I also like to be able to see my "outs" to either side, but it doesn't need to be
as bright there. Ideally, my light does not illuminate anywhere to the side if I can't turn sharp enough at speed to ride there, because that's just wasted light.
The faster you ride, the more important throw is and the less important spill becomes. It works the other way, too. The slower you ride, the less important throw is, and spill becomes more useful. I tend to cruise along at 25-30 km/h, and prefer a narrower beam than the XM-L gives me. It's still usable, just not optimal. If you ride faster, XM-L will be less useful. If you ride slower, it will be more useful than it is to me.
Another consideration is the ambient lighting where you'll be riding. With a lot of ambient lighting, your bike light will serve more as a "be seen" light than a "to see" light. A wider beam might make you visible from more angles. If there's little ambient lighting, then your light is a more of a "to see" light, and you want to put the lumens you have in the most useful place, in a fairly narrow beam pointed straight ahead.
Unfortunately, there is no single best option for bike lights. It very much depends on riding style and environment.