Ed, your post made me think.  Since I didn't want to hijack your post, I thought I would post a separate, but related topic.   I was wondering if anyone has found a replacement for the bullet holder?  I installed an OGM tri-color light at the top of my mast, and it is nice and bright~!  I want to maintain my existing nav lights, as a backup, and to use when bay sailing.
Rather than replace the bulbs, I think I want to replace the fittings, using some type of LED, flush mount, if possible.  With LED, hopefully I will never have to replace another nav light bulb!  Has anyone done something like that?