Lustering looks a lot more pink in the tube than it actually is. It applies quite sheer and soft, as most MAC Lustre finishes do. It's a great color for a subtle pink lip with natural makeup. I'm not sure I would pair this up with too much eye makeup though - it really all depends on how pigmented your lips are. Mine aren't pigmented at all so it's a lot more obvious on me than say, my friend, whose lips are naturally quite rosy.
As you can see from the swatches (Lustering on left), Love Nectar is almost colorless. It does have gold and pink shimmer bits which is why I think it pairs nicely with lipstick.
Here's what they both look like on me. You can see the little Love Nectar bits on my lips! I'm still getting the hang of taking pictures of my own lips. Really not the easiest thing I've ever done. Giving my cat a bath is easier. Clipping her bum hair is easier. And she's a difficult cat. You get the picture.
All and all, Lustering is a winner. Love Nectar is also pretty great. However, I'm sure you could get the same oomph effect with any other lipgloss with shimmery bits. I have yet to decide if buying MAC lustreglasses is worth the price.
Woah, this was quite a "lustre" post. Lustering lipstick, with a lustre finish paired with Lustreglass. Hellooooo!