LOL, I thought this would be a one answer thread. This is in a detached building. Right now my lights draw about 16.5 amps, which I believe violates the "80% maximum" rule. The new lights are significantly more efficient, to replace the same amount of light I could probably cut that down to around 10 amps, BUT, I also want MORE light.
Run a new circuit? Sure, that's easy to say for free from behind your computer,

and yeah, it would be great in an ideal world. That's basically what I want to do here - abandon the old "120v" lighting circut, and barrow the old wires to "run a new" 240v circuit. Now I'm only burning 5 amps up to maybe 10 max. I believe the least amps in a given wire is usually the best option. Actually I could probably downgrade the 20A breaker to a DP 15A.
Now the issue I see here is the switch. I didn't think I had to turn off both hots, why is that? I know they make double pole light switches, but, I also know every regular light switch I've ever seen is marked 120-277v like my lights. I'll have to look inside the switch box, the neutral wire might already be in there capped off. I know in my old shop I had 400w 240v metal halide fixtures with a switch that only cut one hot wire. Maybe it was done wrong to begin with?
I guess I could just use the breaker as the switch....