well i prefer LED's. Leds are much more energy efficient and have a nicer beam.
This feature of LED also allows small lights like the Fenix L1P to produce loads of light in a very small packages running on just one AA battery.
Or extreamly long runtimes with a single AA battery, like the Al-91 which is advertised with 88 hours of run time on a single AA battery, using a 5mm Nichia Led. Still using the original battery in it...
Leds are claimed to be more durable, but i never managed to break a incandence light either with normal use...
Personally i think maglites are way over rated and priced. You can get much beter price / quality ratio's.
www.flashlighreviews.com is a great site, where you can find loads of reviews.
Don't forget to have a look at headlights, they are very usefull.