I've been watching the whole LED lighting thing develop (both for cycling and for home lighting)over the last few years and have been waiting for the right time to move. From my recent research, architectural LED's aren't quite there yet as far as efficiency goes but it sure does seem like LED bike lights are coming of age. There are literally dozens of companies throwing their hats into the ring including all of the heavy hitters in the HID market but one company has really caught my eye, Dinotte Lighting in New Hampster. They work exclusively with LED's, have a fairly wide variety of lighting options (including some super bright taillights) and are closer to me than any other lighting company (I love to use local whenever possible).
One of the coolest things that Dinotte does is offer most of their lights in both litium-ion versions as well as AA rechargeable versions so if you're looking for a convenient light with minimal fuss you can pick up a AA set that still gives you 2 hour run times. In a pinch, you can even throw regular AA batteries in to get you home if you wander further than expected.
Personally, I'd be in the market for the Endurance Series of lights with lithium-ion batteries. With their impressive run times, kick ass lumen output, ease of use/mounting and the fact that all lights come with two (thats right two!) batteries and it's a no-brainer. If I had money to spend that is...
The 200L Dual, mounts with o-rings. Super easy.
The 600L. Same mounting system as my Marwi's. Very quick and easy.
The crazy bright taillight. Insane!