dont know the bike, but if you are happy that there is plenty of life in the pads/shoes and the discs/drums are not worn, then i would'nt be too worried. Water and dirt can cause the squeak. As for the bulb problem, not sure what the neutral light has got to do with it? would normaly be a totally different circuit. Assuming that you are not using non standard bulbs, i would start looking for an earthing or vibration problem.
Oh yea....
"what you need to remember is that on any bike the brakes a crap in the wet/rain and that why you shud keep up to date with your tires and renew them when you need to"
Where did you drum this gem up Michael? I think you should read the question again. Paul says the brake squeak. Did'nt say they were crap! Its not the usually the brakes/tyres that are crap, its the road conditions!! Thats the same for any vehicle in the wet. Given that the bike is in good order, you should always ride within your abilities for the road conditions. To say that bike brakes are crap in the wet just shows that you have no understanding of riding/driving.