I would DEFINITELY change 120v lights to 12v. The safety factor alone makes all the difference. I have 12v lights and the transformers are at a distance, so if, SOMEHOW the lights short out AND the ground-fault fails, the pool doesn't become automatically deadly.

Of course, ALL electrical items around a pool MUST be ground-faulted by ordinance and by d***-fool common sense!

I actually find the 12 v lights to be VERY bright--almost too bright, but that's me. I don't think the underwater lights SHOULD be that bright--they become unpleasant for swimmers. But...that's me.