IMHO LEDs do have a better color rendition than incan. We're just more used to incan and it gives a "warm" feeling
Now that LED has the power to compete ... gone is the ghostly glow and now we see brilliant white cut through the night whereas incan is a dimly yellow glow.
IMHO this problem was a lot about the lack of luminous flux with LED and not a problem per se.
When looking at the spectra of LED and incan ... we see that both aren't perfect at all. They are different. The huge red power in incan is more unnatural than the blue spike in LED.
bernie
My overall preference is LEDs by far, but my opinion is different here.
I think that incandescents do a better job of cutting through fog, bringing out outside colors, and reaching out than LEDs do.
When I use even my most powerful LEDs outside, they have an almost 2D feel--the color of the beam makes seeing texture and 3D'ness nearly impossible beyond short range. They also don't really help much with ambient lighting when walking outdoors. Outdoor plants seem faded in color.
Incandescents, when at full power (e.g. before they start shifting color to amber/brown), for me anyway, really work excellently outdoors. The colors come to life, the texture/ 3D'ness peaks, and they can cut through ambient light.
Indoors is another matter. For me, LEDs seem MORE white when on a white wall, while the incandescents seem yellow -- at full power -- to brown at below full power. Even when moving room to room and not just looking at white walls, LEDs seem brighter/whiter indoors.
This is generally why I prefer LEDs indoors, and incandescents outdoors.
An easy way to make incandescents more useful for a longer period of time is to regulate them -- so they don't immediately drop in output after 2 minutes of use. I find that after just 5-10 minutes of use, nearly all incandescents are too amber-brown for my liking--even popular Surefire models. Unfortunately, only the A2 seems to have regulation.