LED is not always brighter than incan. The LED must be properly designed, and have proper heatsinking to attain good output and reliability. The MAgLED is an excellent example.
That Magled may start out at 40 lumens, but 15 minutes later, due to thermal limiting, it is down to 20 lumens. Yes, it has great runtime, but my P60 Surefire is still cranking out 50+ lumens...with a shorter runtime.
Poor heatsinking is always bad. It means that the light was not designed properly. Mag did a good job of preventing thermal runaway, but it is a still Bandaid for poor heatsinking.
Then there is the very real issue of color rendition (incans are still generally better than LED) and fog/rain penetration (my old bone-stock Tec-40s kills every LED I own when used in bad weather).
Just food for thought.