OK. I guess it only looks like the Davis Masthead light is what they said it was. I’ll just blame Davis and/or Sailnet for not knowing the difference between a Masthead light and an All Round
I wouldn’t be too concerned about “Coast Guard Approved.” Does anyone know if there is a process by which a company can obtain actual Coast Guard approval for their lights? More likely, “Coast Guard Approved” is marketing doublespeak for “We‘re pretty sure they meet Coast Guard requirements.” In my experience, Coasties are pretty reasonable about these sorts of things, and they’re not gonna board your vessel and order you to drop your mast so they can check if your anchor light is Coast Guard approved. Any Coasties lurking out there?
In perusing the 4-5 pages of lights in the West Marine catolog, I notice only a single Hella brand light which is stated to be Coast Guard Approved. All of the Perko LED lights say “Meets Coast Guard and ABYC standards.” I wonder if that means the non-LED lights don’t. Aqua Signal, whose Series 20 lights are about the cheapest and (surprise) the ones which I believe are standard on most late model Macs also make some pretty expensive lights, but they are totally silent on the matter.
I believe when it comes to incandescent lights, in general light output is pretty much directly related to power consumption. A 5W (420ma) light is half as bright as a 10W(840ma), your “bright bulb” Davis is 4W (320ma) about 1/3 as bright, etc. Manufacturers can maximize the effect of a given amount of raw light through clever lens design, but everybody pretty much already knows how to do this, so the actual difference between competing lights of a given wattage is small. BTW, the standard Aqua Signal Series 20 lights on the Mac are all 5W, as is the same series All Round light I’m using as an anchor light; so the difference between that and the 320ma Davis “bright bulb” is not much. The Davis “energy saver” bulb proves the above by a simple logical exercise, otherwise the entire concept is bogus. They could just as truthfully advertize the two bulbs as “low light” and “energy waster.”

Scientific testing would be useful, but my feeling is that if you do a side by side comparison and the brightness appears equal, it probably is. I believe however, that apparent brightness is a function of distance squared, so that a subtle difference when viewed up close could be significant when viewed from the requisite 2nm.
LEDs are different in that they put out a lot more light per Watt. The problem for me is it’s difficult to justify spending $100 or more each to replace existing lights that, as they stand right now, draw less than amp. I think I can live with 5 Ah per night and direct my energy saving efforts elsewhere, or for the same money, buy a bigger battery (or two) which will be way more useful overall (oh the horror of it all!)
There's no particular reason I can see that the LED lights should be so expensive. The LEDs themselves and the circuits required to power them are more expensive, but not enough more to justify the huge differential. If (when) get the cost down to something reasonable, or if we could find the fairly inexpensive LED retrofit bulbs which both fit and don’t compromise light output, I might think again.
Sorry this is so long.