LED light possibility

Hi guys, i dunno if this is the right forum for this topic, but looking at the possibility of LED and its long life and bright output, does there exist a LED alternative to normal house lights?, i am not electrically minded , can anyone tell if this is possible,
would save on power for the house, as LED draws very little power?
all comments welcomed
cheers
Des

Roguesw,

Here's the present state of the art:

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....The best white LEDs on the market emit 25 lm/W, which is almost twice as efficient as an equivalent tungsten-filament light bulb, but barely a third as good as a fluorescent tube. To become competitive, the devices need to reach 80 lm/W. To rule the world, 150 lm/W is probably required. If progress continues at the rate of the past 30 years, this will be reached by 2010. That is a big if, but the efficiency of blue and UVLEDs should improve dramatically as better ways are found to build them.

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That's from the 10/3/02 Economist Magazine (hope that a short quote is ok). Now please pardon me while I go play with my KL1/E2.

Moving to the LED Forum.
It may move again...