Don't like the "toy" look of old Lionel switches? Paint the motor canopy "relay cabinet" gray, like Fastrack switches. Either file off the big "L" or stick a round Avery label on top. Leave the lantern as is. you'll like it. Like my painted rails, I only paint what's visible from the control pane!.
My 22 x 7' workshop floor layout (posted elsewhere) has one control point. Even though the switch controllers are lit, I position the lanterns to fully show the switch position from the the control panel view. Obviously doesn't apply to most layouts.