My lathe has a lamp:

The lamp used to work, then it made a fizzing noise and stopped working. I took the lid off, removed the bulb (a G6.35 halogen), and ascertained that it appeared to be intact. Noticing the legs were covered in what can only be described as grime, I wondered if some sort of deposit was blocking the healthy flow of electrons. A rinse in vinegar and an overnight dry, I popped it back in, and, success! A working light.
For a few days. Then once again a fizzing sound followed almost immediately by darkness.
This time I thought I had better take it to bits and check it properly, which I did, and found some very old and tired looking wiring. And I found a lampholder, looking like one of these:

The one I have is somewhat elderly, and along with the wiring I think it should be pensioned off. Which leads me to the problem: what to replace it with? I am stuck (well, do not want to replace) with 24V AC. As far as I can see that pretty much rules out LED solutions as there doesn't seem to be anything commercially available that would be a drop-in replacement. The lampholder itself doesn't seem to be available any more (at least in quantities less than 100), and the reflector is 65mm, not the 50mm standard used in household bulbs.
The ideal would be I guess a GU4 type bulb and holder, or something like it. I can reuse the reflector of course, but I'm not sure if there's anything it would attach to out there. I could make a holder out of Delrin but I'm not sure Delrin and a 150W halogen bulb are a great mix.