I have a fixture in my kitchen with six 50w halogen light bulbs. It has great light but uses too much power. For the past year I have been experimenting with different LED replacement bulbs. So far the best is a 3 watt bulb that has white, not bluish light.
Unfortunately the early LED bulbs did not last as long as claimed due to overheating the kryponite of LED bulbs. So if you see any LED bulbs without heat sinks surrounding the LED be careful.
I remember seeing a Mythbusters show comparing bulbs LED bulbs, to CFL's and incandect are not adversly effected by frequently turning lights off, then on.
I still think LED bulbs need to drop in price, and increase output, before CFL's will go the way of the typerwriter repairman.
The Federal Trade Commission last Wednesday brought a suit against an LED bulb manufacturer, Lights of America, for exaggerating the light output and expected life of its LED bulbs.
Here's a link to a good comparison article in CNET:
LED bulbs in the home: So far, so good | Green Tech - CNET News