Thanks SOOO much for all the feedback, and I'm sorry that I hadn't come back to this post till now. You all raised really helpful issues for me to consider, but I have to say that I still haven't firmly decided what to do. I'm probably at 75 percent in terms of keeping the fixture - it just feels like it goes with the room. I think I'm satisfied that most of the concerns are manageable. For example, I've tested and it doesn't block the TV, and we have had a coffee table directly below the junction box in every configuration of the room since we moved here a decade ago, so I think it's reasonable bet that this will stay under any future layout. In terms of the kids, I have 2 boys who are the types who are constantly bouncing off the walls, so it's not inconceivable that they might hang off the ceiling - but they are old enough to know better and tall enough that if they were going to do this, they probably already would have! They have a Wii and don't seem to jump a lot, and if that begins to happen I would probably move the Wii to our (tiny) playroom instead. My real remaining uncertainty is just whether it looks goofy, like lipstick on a pig. I don't think so, but I'm obviously biased. And I don't really trust my own judgment after a couple of botched decisions on this sort lately (our kitchen reno should have been done except that I picked a totally nutty contractor, who thankfully walked away.) SO I'm going to stew about it a bit longer, see if I can find a semi-flush fixture that I like (at least one that isn't $500 and up, which seems to be the case for all the ones like), and give it a week or two of more consideration. Thanks so much for all your really helpful comments!!

I was asking recently about a hood and small pendants (older thread). My solution involves the symmetry of two small pendants working with the hood. I like high-hats for their unobtrusive lighting, but my personal taste is to have something decorative providing some light and some style at the same time. I say yes, do a pendant. It's hard to visualize your space, but from the description I'm thinking a long bar light over the peninsula, and the hood over the island.

Did you ever end up installing these pendants at the 29 inches? My ceiling is about 10ft 10 inches and that pendant with 1 extension will make it 29 inches above my island. Debating what to do. Without the extension it will be 40 inches above the island which I feel is too high.

We are using 3 of the 10" Pottery Barn City Glass pendants over our 9' island. I was also worried about having enough task lighting, so we added a can light over the island sink. Just wanted to add that many use lanterns over the island for an airy look and plenty of light.