My situation is a bit complicated by the fact that I have very compromised vision in one eye (a detached retina that was successfully repaired after three operations, but with a lot of scar tissue that limits vision with that eye). As a a result, my near-field vision is strongly one-dimensional. I need lots of light, but I also need for the light to be rather directional (ie, multiple sources of light at differing distances from the workpiece) so that discontinuities on the surface of the turning will cast shadows.
This also causes problems with depth perception at close distances - so I have to be more careful with things like how I bring a tool up to the workpiece (my strong directional lighting causes the tool to cast shadows), how I fill a fountain pen from bottled ink, and most critically, how I pour my glass of wine at the end of the day.
So my lighting setup consists of two reflector lights at the lathe, a swivel-light in a bullet-shaped reflector mounted on the headstock that I can position to get bright directional light, and a second broad pan-shaped reflector mounted above the tailstock to provide fill lighting. I'm currently using CFLs simply because that's what I've been using for several years, but when they eventually go, I plan to replace them with LEDs. I have opted for daylight lamps because the cooler color temperature creates a perception of greater brightness.