I also have been struggling with this decision for the past year. I've had great luck with the Sensi-Bulbs from Sailor's Solutions but in the brass fittings which RainDog and I have, the bulbs protrude farily far out in the "shade" so give lots of "bare lightbulb" style glare.
In a previous boat I converted two lamps to white plastic "Opal" lamps with sensi-bulbs. While these lack the nice brass finish which goes so well with our teak interior, the "Opal" lampshade gives off a warm glow when the light is on so provides a nice ambient light to the cabin plus a good strong reading light.
I'll be interested to hear about other solutions.
PSC 37 Kenlanu