We started with these basic ugly plastic reading lights. When mine broke, it was time to look around for other solutions.
At Hamilton Marine we found these for $23.99, cheap for a light fixture: LED Stalk Light
Leaving the switches, the old plastic fixtures were swapped for the new stalk lights. The new lights work great, lighting just what we're reading, not the whole room. The LED light in the center is a bit blue for my taste, but if I move the book just a little bit to the edge of the light it's warm and easy on the eyes. I really like being able to direct the light so precisely. And, since it's LED, I don't worry too much about falling asleep with the light left on.