Why not go +4 and -4?
While there is some sense to that, the combination of a Spot penalty with All-Around Vision is dissonant somehow. OTOH, it's just funny enough to do it!![]()
How about this?
All-Around Vision (Ex): A rekeihs's many eyes gives it a +4 racial bonus on Search checks, and it can't be flanked.
Myopic (Ex): A rekeihs is nearsighted, resulting in a -4 racial penalty on Spot checks, and negating the usual +4 racial bonus on Spot checks attributed to all-around vision.
...or...
All-Around Vision (Ex): A rekeihs's many eyes gives it a +4 racial bonus on Search and Spot checks, and it can't be flanked.
Myopic (Ex): A rekeihs is nearsighted, resulting in a -4 racial penalty on Spot checks made beyond 30 feet.

(Dungeons & Dragons)
Rulebook featuring "high magic" options, including a host of new spells.