(I don't own this image but
darned if I know who does.)
If your lead Fighting Man has a shield, cast it on the front of the shield to make it like a headlamp. If you need to see something a long way down, cast it on the end of a rope. A long way up? Cast it on an arrow and fire away.
A light spell doesn't take up one hand like a lantern or torch. It doesn't weigh anything. It wont be extinguished by dropping it, and it won't light your robe on fire.
Finally, if you Ref it like I always have, casting it on the eyes of an enemy blinds them for an hour. In this respect, it's basically a kill spell when you need it. It can also be used to bluff an intelligent monster or man-type into surrender.