For me, incan and LED peacefully coexist. Perhaps unlike many here, I prefer white light for determining color. Somehow, my eyes see colors better in white light (eg I have a very difficult time distinguishing dark navy blue socks and black socks in incan lighting. Switch on the bright white light, whether it be fluorescent or LED, and the socks sort themselves!). When outdoors however, I generally prefer incan lights. LED lights look "flat" to me, and maybe I have the wrong lights, but LEDs just don't seem to have the reach of incan lights. Then again, I have not experimented with warm tint LEDs--if I want warm white light, I just use incan.
Caveat. When I refer to incans, I generally mean Surefire caliber, whose xenon bulbs emit whiter light than some other types of incan lights. Light output that is too yellowy, or the awful green of early LEDs, is a definite no-no.