Just read a post in Sail Magazine 'To the Editor' from a guy who changed out most his boat to LED. He took a lightning strike and lost every LED on board. The incandescent lights, including the spreader lights, were undamaged. He is questioning his decision to change to LED.
I bought a hurricane lantern at REI for $36 that holds three 9-hour candles. While at anchor I light one of the candles and hoist it to provide the required 360 degree illumination. It provides plenty of light, is easily seen, does not blow out, and I save the battery. Replacement candles come in a 3-pack for $2.