Bob,
I would guess that a properly designed LED fixture would use about half the power for the same amount of light as compared to a descent florescent light. Both are way better than incandescent. Don't take my estimate as hard data though. I figure if the LED light manufacturers ever really focus on making light efficiently then they will beat florescents by a wide margin. For now they seem to be focused on making LED's brighter and the overall fixtures cheaper. That's all well and good because it is what the market seems to want, for now, but eventually as energy prices rise efficiently will command a price premium.
I should mention that Geofkey gave a ton of good LED lighting options back on page 10. I haven't even scratched the surface on the research he did.
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