It is not easy to give a single answer to any of you questions. I can try to say something about you question, but it is not a full answer, only a popular explanation:
1) Any light emitter send out some light (lumen), how far it will throw is depend on how focussed it is (Lux). To compare light from different types of light sources you look at lumen/watt specification. See here for some numbers:
http://en.wikipedia.org/wiki/Luminous_efficacy
2) A led will surpass a old incad very easily, at least in brightness, but not in color rendition.
3) Batteries do get better, but in led lights the electronic also has a huge impact on how the light works, especially on single cell lights (1.5 volt), where there are large differences between different brands of lights.