I recently did a little digging on the subject.
It looks like a typical incandescent bulb during the heyday of hotwire is less than 15 lumens per watt. I am guessing there is even lower efficiency in a flashlight incandescent bulb due to not running at optimal voltage with battery sag.
When LEDs first took over the scene in flashlights, I think the Luxeon III era, we were getting about 40 lumens per watt.
Cree XR-E came on the scene at more than double that, 80-100 lumens per watt.
Now current generation Cree XP-L are getting about 200 lumens per watt in best circumstances.
So you could say a modern LED flashlight is 10-20x more efficient than an incandescent flashlight. Whether you spend that efficiency towards runtime or brightness is on a sliding scale, up to the specific implementation. But at this point, by comparison, you can have both. It is becoming alarmingly "reasonable" to have a 1000 lumen flashlight that fits in your pocket and runs for an hour or maybe two. When incandescent was at its best, we thought 50 lumens for an hour was pretty good.
Once we got into Luxeon III territory, that basically cut off the entire track of incandescent technology. We had regulated incandescent using circuitry that would only have gotten better. There was an entire avenue of development that would improve incandescent efficiency easily 2x, using infrared reflective coating. There are better ICs now that are wildly efficient compared to what we had back then.