I recently fitted all new lighting in my home. I looked at LED lighting, but the salesman was quite honest with me and said that at this point, unless you double the amount of fittings, you're going to be dissapointed. It's not so much the light output but rather the angle of the light - you end up with little star trek beams all over the place.

I bought some CFL spotlights and fitted them into the bathrooms, but I don't like the light quality - it reminds me of an airline toilet. I fitted plain 'ol inefficient halogens to the kitchen, and it's by far the most pleasant lighting in the house. CFL replacements went into all the other fittings.

I haven't noticed any difference in my power bills at all. I suspect that might be to do with the 13 kw air conditioner, pool pump, at least 6 computers running, plasma tv, tivo, exhaust and ventilation fans and exterior lighting. Interior lighting is such a small part of the total energy use in a lot of modern houses.