I don't know anything about this particular project, but the fact that earmark spending is miniscule doesn't make it okay.
1. This is from the economic stimulus package, do you think that repairing this light house was even in the bottom 50th percentile in terms of waste? To me this project seems completely reasonable as does the pricetag. Perhaps lighthouse repairs should be funded from port fees or something else instead.
2. Even if it's wrong, as you imply, the point the posters in this thread were trying to make was that McCain & Coburn themselves are wrong by lying to the American people to make them think most of our money is being spent on the silliest of small projects they pull out of a trillion dollar budget.
3. Earmarking rules are getting better. Hopefully Young and Murtha are in jail soon (not likely).