Are LEDs or CFLs the Wave of the Future for Lighting?

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GeoBulb LED replacement light bulb, typical incandescent and typical CFL.
The New York Times was quick to report that on Tuesday the very last incandescent bulb at Grand Central Terminal in New York City was replaced with one of the compact fluorescent variety. At the same time on a smaller scale, I'm also replacing the very last incandescent in my house, a hallway closet light that finally burned out. But not two days later, the Times is saying that LEDs are the next big thing in lighting. What's up with that?

Eric A. Taub wrote for the Times:

The recent replacement of the incandescent lamps in Grand Central Terminal in New York with compact fluorescent bulbs notwithstanding, the lighting industry continues to believe that LEDs, not C.F.L.s, will eventually be the technology of choice for many lighting applications.

Obviously we know that long-lasting LED lighting solutions will gain popularity as manufacturers figure out how to make the light from those emitting diodes brighter and warmer, but the article admits that the LED products the average person has access to at the local store are still very "strange-looking" and "below par."

Tell us in the comments: Are you sticking to green-and-cheap CFLs or will you upgrade to long-lasting LEDs?

(Image: Flickr member trenttsd licensed for use under Creative Commons)

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Taryn is a writer, maker, designer, and editor of lifestyle blog Formal Fringe. She lives in an apartment in Atlanta with her fiancé, their Boston Terrier and lots of serving dishes.