Sunny-
I have an "LED" flashlight given to me from one of my lighting reps...
They are the wave of the future....lamps (bulbs) eventually will be obsolete. Not sure exactly when but its coming...(look at California going from incadescent to all flourescent)
To get back to your question, they shine just as well as a "lamp". The advantage is they last a heck of a lot longer and are more energy efficient.
hope that helps