LED jargon, please help me understand

I see alot of references to XYZ-bin LED's and I don't know what the bin-letter means. I also don't really know what a Cree is, other than it's a new type of LED that must be better or brighter than a Luxeon 3 watt. Wattage wise, what is a cree rated? Sorry I tried searching first but everything I come across is not too helpful for a layman like myself. Hoping someone can link me to a good FAQ or thread...
FYI, I ordered a Fenix L2T today to use as a backup for my stenlight. I'm hoping it's as great as I've read.
Thanks very much,
Joey

Hi,
This may help you on the luxeons-> http://home.comcast.net/~theledguy/bin_codes/index.htm. Im not exactly sure about the cree, all I know is that it is more efficient so it is brighter/longer runtimes.

Taylorf said:

Hi,
This may help you on the luxeons-> http://home.comcast.net/~theledguy/bin_codes/index.htm. Im not exactly sure about the cree, all I know is that it is more efficient so it is brighter/longer runtimes.

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i'm a noobie also and that helps alot... thanks!