Just like it was said already in this tread, the ultimate bike motor is left side fixed gear belt/chain middrive using RC-grade high KV motors, replacing the rear brake. It can be either extremely cheap, extremely powerful or something inbetween.
This one (on the rear) costs 40$, weight less than 2 pounds for the motor and about 10$ and an other pound for mounting hardware (yea, would be pricier if you don't have access to a large delta printer).
It has about 30nm of torque peak, 1kw continous, 50kmh-ish top speed with some application of human power... from 24v battery!
By marginally increasing the price and increasing weight only by about a 1 pound you can also nearly double the power and torque, but I'm limited by 24v system (maybe I'll change that).
The point about 'hard to fit into a bicycle formfactor' still stands though

Of course, 30nm peak is pretty pedestrian and I'm having problems starting from stop on a gentle uphill even with human power added (entire things plus me weighting a ton does not help things as well).
That's where adding a 'crankdrive' ON TOP of that is going to help things... also freewheels so pedalling is affected only by 'fixed gear middrive' and implementing virtual freewheeling using smart controllers is very easy.
Currently I'm having problems with sensorless motor (VESC HFI didn't turn out as reliable as I hoped), will be replacing it with sensored shortly however.
This way you can have both meaningful regenerative braking, efficient cruising, light weight and low unsuspended mass, and huge amount of torque at low speed on demand (efficient, too!), and since it will be used intermittently - additional wear on 'human drivetrain' will be minimal.