Here's a follow-up on that 1 watt Luxeon bulb that was discussed earlier... (for the Petzl Duo high beam)
http://store.led-replacement.com/ls407.html (These sell for $24 incl shipping.)
Non-scientific results from a few weeks of lava tube caving recently - great!
With fresh batteries, the side-emitting LED is approximately the same brightness as the halogen bulb it replaced - but with that nice clean white light. And it can still be manually focussed, just like the halogen. But the LED really starts paying for itself once you get some hours of use on the batteries, particularly if you use NiMHs like I do. Although I'm still happy using the 8 LED low beam 95% of the time, it's nice to actually have a usable high beam for spotting when you're 10 hours or more into a cave.
Verdict - 2 thumbs up!