The best replacement for mr16 is gu10.

The best alternatives to mr16 are rated as following:
★★★★★  gu10
★★★★★  mr11
★★★  par20
★★  gu5.3
★  par30
★  par 16
★  gu10 led
★  par16
★  mr24
★  par
★  gu10 bulbs
★  mr12
★  mrc16
  gu4
  mr11 bulbs
  par36
  par 20
  mr20

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Speaking about mr16, one probably shouldn't forget about gu10.

Other search terms related to mr16 and their ratings are:
★★★★★ gu10
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Google Trends

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mr16
gu10
mr11