First, why are you working in Ray-Traced Rendering? I don't see any extrusions. If Ray-traced rendering is required then what are Ray-trace sample settings.
Second, I think you have your settings reversed. Draft 3D turns off all lights and renders things in draft mode. Turn off Draft 3D, the little icon deselected, and the lights work.
This is RayTraced (with samples set to 4) and Draft 3D off:
This is the same comp with Draft 3D turned on:
The bottom screenshot shows Draft 3D turned off and it looks the best to me. What are you expecting to see that you do not. It just looks like the lights could be brighter. YOU cannot judge lighting in Draft 3D because they are turned off.
If you are not talking about Draft 3D but are talking about this:
Then Final Quality (off) will give you what you are going to get when you render. Adaptive, Draft, Fast Draft and Wireframe will not render. OPEN GL drivers and Fast Previews Preferences may have something do to with what you are seeing. Render Options will bring up Ray-traced samples or in a Classic comp Shadow Map resolution.