I just saw this old thread and wanted to say, our light still works and the only trouble we had was when my husband was turning it to adjust the water flow we ripped our liner, but saw it immediately and patched so its fine.we installed an Aqualuminator that we found new on ebay for about $70 this summer. It works very well, it installs in the return opening, you do not have to drain to install, my husband and I did it. Its pretty bright, I think we could use 2 of them, our pool is 30' round.
We must have gotten a good one, 7 years ago!