A hand held light gives you a lot of versatility. Remember, you don't have to shine the light directly on the target to see it. You just have to illuminate the area enough to see. The gun mounted lights have a some things about them you need to take into account.
One is the retraining issue of how you will grip your weapon with the light in place. You need to keep the finger that actuates the light on the light switch so you will have to learn that.
Second thing is the lights I have tried out have very small switches. Using them under stress is not as easy as just pressing the large pressure pad of say a Surefire shotgun mounted light. You can train to do anything, but operating that little button while jacked up on adrenaline may be a challenge.
Third, if your light is on your weapon it is very easy to start using your gun as a flashlight. This can create a situation in which you are shining it around looking at things meaning you are now pointing a loaded weapon at those things whether you need to be or not.
Another thing is the cost of the weapon mounted lights versus a handheld light. Weapon lights are expensive and holsters to accept a light fitted weapon are another expense.
Lastly, if you come up against someone who is serious he will shoot at the light. This is a big problem with weapon mounted lights since the light is right in front of you. IF the light is easy to turn on and off with gross motor skills you can light up a target, ID it, turn the light off and fire. The small buttons of the pistol lights make it tougher to do that.