I use cheap 3X readers, and I have a 2X clip-on lens that I can flip down when I need extra magnification for detail work. Also have a 6X set of readers with a 3X flip-down lens, but that rarely gets used. Have to close one eye when I use those though.
As for light. I have a 300W equivalent soft white CFL over my work area for overall lighting, and I use an LED headlamp to put extra light on the subject I'm working on. Nothing better than a headlamp...the light goes wherever you're looking.
Being able to see better had an extra benefit that I hadn't thought of. I find that when I can see better, I don't start getting stress-induced shaking hands.