I got my I-Sight and I love it!
Here are some pictures. Please note that the light is in reality more white and not so blue as my camera believes it is.
Anyway, thanks to it's parabolic reflector, lens and genuine Nichia LED (whatever that may mean) you get a perfect circle of light so almost no more light going trough your bedroom other than the circle. I see marriages being saved. :P
Because it clips on your ear it lights in the direction you are looking at and that works quite well. Of course you can and will need to adjust it so it's in the middle of your eyesight. On a average reading distance the circle won't be so big but hey, you only need light where your eyes are looking at, or not? Of course I don't know if it will work with the Sony Reader because of possible reflections, but I think it's nothing that can't be solved by tilting your Reader a bit.