Could keep it to quadrants. Like a 3x3 gridspace, and the light can be set to one of those spaces like 1,1 is upper left, 2,2 is middle, 3,3 is lower right. 

Also the Light Intensity and Light Size can be given just 3 choices: Dull, Medium, Bright, (with 3 tiny icons to represent), and Small, Medium, Large light size options with another 3 icons (like tiny bulbs)

This is a great one :)  Light type, color, position, possibly angle if Spotlight is a choice.
When testing Specular on some floor meshes in the preview pane, I found I was getting an inaccurate preview of how it would look in-game with Ambient + environmental lights.

Can't wait. Will be great for those with Alpha channel. 

Same here, all our artists use Wacom which has a layout best suited for the "alt+ ..." functions listed above

Thanks for the reply.
I'd watched a couple youtube tutorials and had a look through the main page, but certainly had no idea such things were already possible in the current version. Good to know its more powerful than it had seemed