Whatever light you choose, ensure you use layering - with ambient, tasks and accent lighting. I see living room lights with just one, all the time, and it fails miserably.

I suggest ceiling spotlights or gimble downlights, they are very functional and very effective at mood lighting. Make sure they come with a dimmer.

LED strip lights work really well at floor level or at ceiling level.

Use spotlight and downlights to highligh interesting art pieces, plants and furniture.

I love floor lamps, particularly tall ones and/or elegant shaped arc ones.

A pair of identical table lamps work really well. 

Nothing beats a crystal chandelier in the living room. 

Try lights that bounce illumination off ceilings and walls. Really great atmosphere!

Picture lights are a wonderful addition to living rooms - they highlight your art or photos on the walls, and look very classy.

Dimmers, dimmers, dimmers. Whatever lights you choose dimmers are mandatory!

Ensure that you use warm white globes.

Pendants made from reclaimed material and wood look fanastic and are so very chic!

If you want a really opulent look, add sophisticated chandeliers - particularly if you have an older style home.

Agree, dimmers are critical for setting mood!