@CrossAvantgarde: You'd survive sure, but Light is psychotic. He'd rationalize his own murders with two things:
1. He is working toward the greater good, and there was no way "L" could understand that. To stop Light is to stop what's right, and therefore wrong.
2. He knows from the get-go that Ryuk will write his name in the book, so he too will die eventually for his crimes.
Of course, Light could also fancy himself something akin to Das ‹bermensch and therefore above morality.
I'd call him an emo b*.