I'd tweak it a bit:
Low-Light Vision: To you, the vision range of all light sources is multiplied by 10 (this does not actually make the light source brighter). For example, if a party member is carrying a torch, you can see out to 200 feet with no penalty, and another 200 feet as if the area were dimly lit. If there is any ambient light, such as starlight, you can see clearly with no penalty at any distance.
The nice thing about this version is that it doesn't require handing out extra bonuses to offset the loss of darkvision. You still have to carry a light source, but if you have one, low-light vision is much better than darkvision. It also supports the specialties of various races. For a wilderness archer (elf), low-light vision is better because it gives you the range to take full advantage of a longbow, and there will usually be some ambient light. For a subterranean melee warrior (dwarf), darkvision remains superior.