I found this post as I was having the same issue, this was the solution that worked for me. As opposed to replacing the input's value just remove it and absolutely position a span behind it that is the same size, the span can have a :before
pseudo class applied to it with the icon font of your choice.
<style type="text/css">
form {position: relative; }
.mystyle:before {content:url(smiley.gif); width: 30px; height: 30px; position: absolute; }
.mystyle {color:red; width: 30px; height: 30px; z-index: 1; position: absolute; }
</style>
<form>
<input class="mystyle" type="text" value=""><span class="mystyle"></span>
</form>