My take on the incan vs. LED argument...

Incandecent will always be easer to focus into a spot. An incan is just a piece of white-hot wire. This wire can be coiled a little, which makes the light-emitting portion only a couple of milimeters.

LED's, on the other hand, use a PN junction of a slab of semiconductor. Generally, more light -> a larger slab semiconductor.

So the LED is at a disadvantage because the light comes from a larger area. When focusing the light, you want the source of the light to be as small as possible (it's a math thing). As the light source grows, the reflector has to grow in proportion. So, for an equivalent spot at 100 yeards, the LED will need a larger reflector to achieve the same beam spread. Of course, you can compensate by using fancer optics (lenses and such), but lenses have the following problems:
1) If the lens covers the entire fron aperature, then you get absolutely no "side spill" light.
2) If the lens only covers part of the aperature, then you get ugly rings on the side spill.
3) Lenses will generally increase the length of the light, and likely the cost and weight.
4) More work to engineer a lensed system.

So, for long-throw applications in the smallest possible package, incandecent wins hands down.