So we found out a lot of background information from Across the Sea. I know a bunch of people are complaining up the wazoo about the episode, but I thought they revealed some pretty good answers in this episode. I particularly enjoyed the Adam and Eve scene (but could have done without the flashbacks!).
Anyway, the light is the "heart of the island" and is supposedly representative of life, death, reincarnation, rebirth, etc. And that if anyone gets their hands on it, then the light will go out forever. So is that what everyone (Widmore, the Dharma Initiative, etc.) has been trying to do on the island- harness the power and energy of this light? Or is Widmore trying to protect it, since he was once a part of Richard's group?
As dark and scary as the smoke monster is, there has always been flashes of light, similar to lightning in the midst of the smoke. The mother says that "a little bit is found in every man. And they always want more." Because the smoke monster originated from pool of light, will its departure from the island cause the light to go out?
I think it might end up being one of the candidates up against both Widmore AND Smokey, because while they are fighting against one another- I think that if either side wins, the light/island/life-as-we-know-it will be destroyed.
Also, perhaps the bomb in the incident tapped into the reincarnation and rebirth part of the light when it went off and created the FST. Just a thought.
Please tell me your ideas and thoughts!!!