MIL had about a dozen of those 12v halogen mini downlighters set into the living room ceiling. (Oh, and another dozen elsewhere!) We are going to have to replace them all, because she smoked heavily, and they are crusted in nicotine. AFAIK, they all have individual transformers, several of which are faulty. Others hum.
My preference would be to rip the lot out and replace them with GU10 (?) mains powered bulbs/fittings that will fit in the same size holes. The only thing that stops me is a worry that the cables may not be long enough, particularly if it turns out that one transformer served several of the 12v lamps.
Is it going to be far, far simpler just to replace like with like?
We are going to rent her place out, so I won't be paying the electricity bill. :)