We have a mix of CFL and LEDs around the place. The LEDS seem to be a better replacement for halogen spots simply because of shape and size, but they also have the advantage over ageing CFLs of coming up to full brightness instantly, rather than needing a few minutes to warm up. Compared with halogen, I love that I can reach up and direct the spot where I want it without using oven-gloves!
In another house that we use, which is off the grid, I put in a tiny solar setup. It uses an inverter and 220V so that we can still switch back to the generator. The LEDs are noticeably more efficient than CFL at eking out the battery, and respond better to switching on and off as we move round the house, which adds to the gain.