Interesting thread. Someone mentioned commercial aviation but, in reality, there's actually far fewer "line-up check" on an Airbus than some here would advocate for C150!
BA SOPs for line-up are:
Cabin-crew signal - given
Flaps - set
Lights set
First one is obviously irrelevant but the second two are important. Entering the runway you should not be distracted by doing control or other checks which are best completed in the run-up area. However, flap selection, which is easily forgotten, can easily kill you so should be checked. Lights, as a courtesy and warning to others, should be left to lining-up. Finally, pitot heat should be selected on at this point.
I would therefore advocate:
Lights - on
Flaps - set
Pitot heat - on
Checking ts & ps, wind etc should not be part of a checklist at this point but are airmanship. You do not use a check list when turning the aircraft or climbing or descending so why would you use one when rolling down the runway?