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LEDs are not traditionally used for illumination not only because of the costs of LEDs, but because of the complex optics required to distribute the light. it's rare to see LEDs used for illumination, though it is making an entrance for some applications, like flashlights and even headlamps. As LED prices continue to come down and LED optics technology improves and cost stabilize, conventional LED lamp retrofits will become commonplace. Take a look at LEDtronics for some examples.

But how much of an improvement will they be over fluorescent lights

Unfortunately what TFA doesn't say is that currently LEDs are only good for spot lighting and not area lighting. In other words they can be used to read a book but not light an entire room. While LED lights for areas are available they are more expensive than other LEDs, which are themselves expensive.

Falcon

It will be some years before we reach this tipping point in price however as current costs are about $100-$200 a bulb for 65watt equivalent LED bulbs

10 years after most bulbs are LED conventional bulbs will seem anachronistic and stone age. One of the few things in the last 100 years to just be out and out replaced by a new technology. Granted we have lots of bright shining new things in our modern world, but they general have been added to what we already have or evolved slowly from what came before. The switch to transistors from tubes is about the only other thing that comes to mind where this has happened, and perhaps this should just be seen as one of the last hold outs of filaments in tube to be displaced by solid state. All that is left to go are CRTs and this too will happen relatively soon.

In need of a similar revolution: Cars that run without gas - this is a hard one, but we are finally starting to make some progress; Energy production from other than Oil, Gas, Coal, and Uranium. Fusion is about the only way to go here, but it isn't doable at any price today. None of the other energy alternatives have a chance of displacing the big 3 fossil fuels or remaining conventional nuclear plants; Getting to Space without conventional rocket technology. Do all these things and we will have finally arrived in the 21 Century.

I feel ya; being able to take your living room to Yellow Alert is not just a good idea, it should be an inalienable right. Well, discretes with individual red, green, and blue channels exist already. Now I guess they just need to get crazy bright and then someone around here can make the front page by building the USB based DAC. If you can't wait you could just move into this place and fiddle with the dials yourself.

...but not the most flexible, or widest variety.

LEDtronics has had LED bulbs and retrofits for just about every kind of application, voltage, and base around. They've got floods, conventional bulbs, automotive and truck retrofits, signage, in just about every color and brightness imaginable. They've even got an incandescent cross reference guide, which lets you use the Incandescent Bulb Number, type, base, or voltage to search for LED replacements. And, they've got a much wider selection of LED floods, and replacements for just about every kind of household bulb out there.

Yes, they're more expensive, and the nature of LED light means it needs to have some fancy design and optics to make it sensible for conventional lighting use, but it uses much less power than even compact fluorescent, and is potentially even more durable and reliable.

The ledtronics link is especially good.

Okay, maybe a few basic hardware References, HI-LED, Breadboard, and Chip Products links would help.

Reference - AtariArchives Electronic Computer Projects
Reference - Electronic Circuit Guidebook Sensors
Reference - Robot Building For Beginners
Global Specialties Breadboards
Eductional Kits USA including LED kits
High Intensity (HI) LED Source Discrete LEDs, LED Panel Mount Lamps, Based LED Lamps, SMT LEDs, PCB LEDs
RF Digital Corporation HI-LED White Red Yellow Blue Green
National Semiconductor Chip Products Catalog National Semiconductor Products
PMC-Sierra Chip Products Product Directory
R.T.Nollet, Chip Products, Australia

There you go; it should be enough to get you started on the hardware. Others that are far better at software can help with some of the required programming resources. If you can afford an old logic analyzer (maybe 8/16-pin, at surplus stores) for the I/O buses they can help you optimize your code. Years ago, (when I did) I would have used, an appropriate Hex/Machine code to do a small project like this. If you and a couple colleagues/friends succeed at this level ... the lessons you teach yourselves and experience obtained will be significant ... not many universities teach at this "wide-concept" "Master-O-None, Jack-O-All" level anymore. Very few Geeks under 40 years old (I believe) would be able to do what you are thinking about even less if they have a college degree that pushed them into a "high pay/viz" specialty at a young fragile age.

OldHawk777

Reality is a self-induced hallucination.

Frankly, I suspect we'd do more for the developing world by adopting this sort of thing for ourselves

A quick Google search turns up The LED Light, and they have a collection of "bulbs" that fit into 120 Volt AC sockets (That would be them things in yer house, at least in the US)

Very expensive though - "36 LED bulb...comparable to a 30 watt incandescent bulb" costs $190.

Another site I've run into in the past is LEDTronics which looks more in line with the geek need for way too much information, and component-level purchasing. I can just see the mod case now...