Excellent post, Don. And for the record, it is true that I have never minded the yellowy tinge of incandescent light, and that I have indeed always felt that incans were pretty cool (figuratively speaking)--but then again, I'm a hotwire guy. LOL!
However, nonetheless, even before this whole amazing, revealing, humbling journey that started with the High CRI thread in the McGizmo forum, I always realized the the incandescent filament was not the reference standard for light. I just maintained that it was as good as it got when you couldn't use natural light. Even so, I was operating under the delusion that color rendering and perception was a lot more objective that it really is. What my recent experiences with the Gretag MacBeth ColorChecker chart, my Pentax K10D DSLR camera, and photoshop and Adobe Camera Raw, and with different sources of light such as Cree and Seoul emitters, Nichia High CRI 083, and high CCT incandescent light sources --what all of these experiences have taught me is that I really didn't know what the !*&&# I was talking about before. And the upside to that is that I now know that I don't know. LOL! It's been astonishing to see how colors morph and change right under my eyes, and back again, and how the side-by-side or quick-change comparison is so different (and more extreme) than the long-term use-it-and-see-what-its-like type of comparison. As Don says, you get used to a certain source and your brain makes adjustments, and it all seems "normal" and you think of it as right and good. I've lived with incandescent flashlights in my life for so long that I never knew how much that had biased my mental perception. I still maintain that incans have superior color rendition and excel in poor weather outdoor use, but I am now much more conscious of their failings, even in the realm of color rendering. Natural light is the reference, is the "best" (if there is such a thing). You can digitally correct things, in very sophisticated and impressive ways, but it has been my (limited) experience that pictures taken using only natural light will always be superior. And, of course, you can mess with them digitally as well!
My wife is a graphic artist and has a much better eye for color than I do, and proper color management, display, and reproduction has been a recent project for me for our computer setup. Mac OS X has its own color management system known as "Color Synch" and you can provide icc color profiles for your printer, scanner, and other devices (they usually come with them, or are already in the OS), and you can color calibrate your monitor if you have the right software and a little stick-on probe to measure the color you actually get in order to compare it against what the computer actually requested. And, taking a digitally stored image with quantified colors, creates an objective reality: something which can be maintained consistently across the whole process until even the final output. But sourcing it, by taking a picture with a digital camera, or by scanning it, involves light, a specific certain light source(s), with a specific device to capture the image, pixel by pixel, and ends up reducing a complex and multi-faceted reality down to one layer, one "interpretation", if you will. That painting, or tapestry, or backpack, or shirt--what does it "really" look like? What are it's "true" colors? There is no single answer, no right or true appearance. It looks different under different light, and even different to different eyes.
So where does that leave CRI and color rendition? I think it's a lot like music reproduction, actually. Certain speakers, certain headphones, certain mics, are objectively bad in that they leave out or severely distort part of the spectrum. We can all agree that a red LED is just not good at rendering colors! Same goes for a green or a blue, or a yellow-green. There are certain colors you simply can't differentiate under red light, and most colors appear to be something totally different under a red LED than under a source with a fuller spectrum of frequencies. And certainly, we can all agree that a modern Seoul emitter is a "truer" light source than the first white 5 mm LED's. So, "bad" is pretty easy to determine.
But, "BEST" is much, much more problematic and controversial. Go to any audio forum and ask what are the "best" headphones or speakers or microphones, and you are going to find a lot of disagreement, because there is no such thing as a single best set of headphones or speakers. And scientific measuring devices won't help you out either! You can't just quantify the frequency response curve's deviation from a perfect flat-response and find the "best" speaker or headphone. The resulting scores would tell you nothing, except for which speakers or headphones were just plain bad. And not even that, in some cases, if the mic or speaker were for a special-use situation.
However, "good" is going to be a lot less controversial, especially if you provide specific information for your intended uses! You'll hear a lot of the same speakers or headphones or lights or whatever mentioned again and again. People will have their personal preferences, of course, but most will say something like "yeah, the such-and-such is pretty good, but I prefer this other whatever".
I think that's where we are with CRI and color rendering. CRI is useless, except to identify what just out and out is going to suck. It has the illusion of being objective and "scientific" because it is a quantitative measure of a light source, but that is indeed only an illusion. There is no better judge of color rendering than the two eyes in your own head. Because, after all, they are what matters to you.
I can only tell you that between the Cree in my Mule and the 083 Nichia in the Sundrop, there is no contest. When it comes to color rendering, the Sundrop is unquestionably better. And it is, in my opinion, better than an incandescent in most situations. But it's not quite as good as sunlight on a clear day, in my experience (or to my preference). But it's definitely GOOD at rendering colors. And it's the first LED light I have experienced where I could say this.
Now, many people have gotten bent out of shape when I have complained about LED light in the past. They have objected that LED light already was great, more than good enough, etc. But "good enough" for who? And for what? If color really is important to you--and this may put you in a minority--then a conventional white LED just plain isn't good enough. Objectively, clearly, NOT GOOD ENOUGH. A bunch of Crees on a bar would just not due in an art gallery. A bunch of High CRI Nichia 083's, on the other hand, would indeed be good enough! Some might still prefer tungsten halogen incans, but it would be just that: preference. The 083 would not leave any colors out, would not under-represent any colors, and would have a balance and smoothness plenty good enough for relative harmony to reign between the colors. For a long time, people have talked about an incandescent light source at 6,500 K instead of 3,500 K. If we could only find a filament material that was solid at 6,500 degrees K and electrically conductive, then we could have a real sunlight source (along with all of it's dangerous UV that the atmosphere filters out in the case of the sun). And this 6,500K CCT incan would run at about 130 lumens/watt efficiency, even without any sort of IR reflective coating or insulation to the envelope. But, of course, the challenges involved in containing such a hot filament in a transparent envelope are formidable. And I doubt we would ever find such a material, in any case, although anythings possible, I suppose.
But, no need! The 083 is fairly close to being just such a light source already. It's spectrum isn't maybe as smooth as the sun's, but it's a pretty good approximation of it. Closer than any other source I've seen or heard about. And I've had plenty of experience with the Solux (and similar) modules with the special reflectors that allow reds to pass through, raising the CCT of the light from the filament. They certainly lack the yellowiness of incans, but they aren't as good as the Sundrop. Taking away some of the predominant part of the spectral curve isn't going to add anything to the part of the curve where it is low (or zero).
Everyone I know of who has experienced the Sundrop will tell you the same thing: it provides the highest quality light (for color rendering) of any LED light they have used. It's good. It's very good. And it portends great things to come.