The typical high-quality xenon lamp will have a whiter and more consistent tint than the average Luxeon. However, the best Luxeons are whiter than incandescent lamps. The days of dreaded "urine green" Luxeons are mostly gone in high-quality flashlights; however, varying degrees of blue are still common.
I have found that you can judge the tint of an LED by comparing it side by side to a bright incandescent beam. If the LED beam has too much blue in it, you will always notice that blue component when comparing the LED and incandescent beams. In that case, the incandescent beam will look whiter. But if you have an LED with a good tint, then the LED beam will look pure white and the incandescent beam will look yellowish.
Interestingly, the incandescent lamp's limitations in efficiency and tint are mainly a limitation of materials rather than of basic physics. If we had a metal that could be heated up to, say 6000 K without melting, then we could get sunlight-pure white light at a lumen efficiency much better than today's best LEDs. But unfortunately, the best that we have is tungsten, which melts at 3695 K.