Not exactly an LED, but take a look at this: http://www.energizer.com/products/flashlights/flashlight.asp?cat=1&id=3

I wouldn't normally look at Eveready / Energizer flashlights, but I used one recently for over two weeks (sometimes two of the same model) as "table lamps" inside a 53' semi trailer dry box that I was using as my office. It has a conventional 5mm white LED in the head and a double-bright 4w CCF mini flourescent tube alnog the body and I was really really impressed with the flourescent. Runs on 4AA, stands on its end, and makes a great little area light. Tube starts off bright but appears to get significantly brighter after several seconds (maybe 30% - 100%? Hard to tell with eyeballs). A Google link: http://tinyurl.com/8rtn2

The 5mm is OK; about what one would expect - I used my E2D with 3W Luxeon head instead of bulb for spotlighting, although the flashlight-challenged liked the LED fine. But the CCF tube was impressive to me. Seems to average around $20, but available lower.

I saw them in Red and OD body colors; there may be a silver body one as well. Not waterproof and I suspect the battery box cover could get lost (duct tape comes to mind). It begs to be ripped apart, canabilized for electronics and tube, and re-built as a 2 x CR123A or 4 x AA robust little package... meanwhile, the one I brought back will get stowed in a tent bag with top batteries reversed, cover taped, and a paracord loop to dangle it from the gear attic - a new non-winter tent lantern.

Tom