Add a glow channel so you can get it to illuminate the way you want it, then go to the light sources and exclude the object from them..  You can use the glow channel on the object to make it bright.  I find translucency to be more trouble than it's worth.  Using the highlight, shininess, glow and transparency makes the shader simpler, faster to render and easier to manipulate.  You could always also use a subtle aura on it's effects tab to make it glow a bit.  I almost never use ambient light anymore if I can avoid it.  Using the indirect lighting system with the correct point and distant light sources produces a much more realistic effect.