I'm curious about the LED too. I haven't seen it, but Nitehawk also has a cheap 10w halogen system I have just ordered. Once I tried a 10w halogen, I didn't want to go back to dimmer lights.
I do have the d'Lumotec topal LED (one of the first ones legally here) and I'm very pleased with it.
Actually I don't care which LED is in it, it is enough light for most of my purposes, starting at very low speed.
But this might be a different class of bicycle light...
I have Lumotec Oval with incan 3W and an red d-toplicht Plus (led) for
the back, If the topal would not look that odd, I would definitly give
him a try ..
I like dual purpose lights. A QIII/R123 strapped on with a twofish lockblock work pretty well as a headlight and an everyday light when not on the bike. Throw on another one for more light.