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I do think LED are cooler then LCD's in some ways, but from what I read, they offer no real picture advantage over LCD's. They are thinner, may use slightly less energy, and definetly have a wow factor in how they look. I pulled this from CNET:
Energy efficiency: An LED TV consumes the least power among all HDTVs with a substantial energy savings of up to 40 percent compared with a conventional lamp-based LCD model. The other major benefits of using light-emitting diodes include an extended panel lifespan, low heat emission and better eco-friendliness. The latter is due to the mercury-free design of these energy-efficient bulbs.
Ultraslim design: Another advantage of edge lighting is that it frees up space behind the screen, which significally reduces bezel depth, giving rise to a family of ultraslim panels measuring as thin as 29.1mm in width. Putting aside the "wow" factor, these lightweight displays are much easier to install. Some can even be suspended on a special steel wire wall-mounting kit, just like a photo frame
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