Depends on what you are trying to see. I find that trying to find my deer stand in southeastern Oklahoma pine forest at 6:00 am is mighty difficult with a LED, like wise finding a blood trail after dark is equally as hard...it doesn't throw the light very far, very bright and you can't concentrate the beam. I find for that situation, the regular bulbs work better. However, post Tornado, in a urban setting I would want longer run times and the longevity that LED brings to the table...so I believe the both have their place in the survival situation. I EDC an Inova on my key chain and have used it many times..amazing how effective a single LED can be in a completely dark room.
I bought some of those LED conversions for the Mini-Mags that I keep for BOB's and house survival kits, but the hunting one will continue to be the standard bulb. <img src="/images/graemlins/smile.gif" alt="" />
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Get busy living...or get busy dying!