Hmmm .... I must have missed this topic when it was originally posted. I'll have to agree that having a flex-neck lamp is a real boon to most any tooling operation. I've long used an old style "high intensity" lamp that has a flex-neck though definitely wish it had a much smaller and magnetic base. I do now have a few of these "sewing" lamps and they are the Bee's Knees without a doubt.
I will have to disagree a bit on the spindle light ring concept however. Only a larger flycutter, which I almost never use due to the wide flung mess they make, would block any significant light from mine, while I do find it quite helpful for most all milling, drilling and tapping operations that I generally find myself doing. Granted, I also have other auxiliary "side lighting" in use at the same time, like from my old "high intensity" lamp and from "sewing" lamps much like you are linking to here.