I just got an LED light similar to the one you describe, but with 60 diodes in the array. It's nice and bright and seems to have held up well to quite a bit of use already. Unfortunately, when I got it home, I found out why the guy at the flea market threw it in as a free bonus with some other tools I bought from him---he didn't have the right charger for it. The one he gave me is wrong, and the light itself is not marked as to voltage or polarity required. If I can't figure it out, I'll be in the market for another one like it, as it seems like the best answer yet to this question.

I don't like anything with an incandescent bulb, as they get very hot. I have burned myself more than once on a drop light bulb. They are also a fire hazard, if the bulb should get broken and there is spilled gas around. "Rough Service" bulbs reduce this risk considerably, and hold up A LOT better, but they get just as hot as the regular kind.

The fluorescent kind are an improvement, but they still have a cord to tangle on things, and they are expensive, and so are replacement bulbs.