Basically yes - you will have greatly extended battery life and you won't have to worry about replacing bulbs. On the other hand, they don't have the throw of some of the more powerful conventional lights available.

My vote for the handiest is the Petzl Tikka, or something similar - there are several small light, headlamps featuring two to four LEDs. Cost is right around $20-30. I am awaiting a mod kit for my belowed Petzl Duo - if it works it should give me the best of everything.