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$/Lumen is the magic number. Hot-wire lamps do really well (250w halogen worklight bulb costs $2, and cranks out 5k Lumens.) and LED's really suck. This BEAST is almost $70, and cranks out roughly the same light output. Of course, you can just buy 24v halogens- a LED needs electronics to...

LED headlamps are expensive for several reasons. I'll ignore the advantages and disadvantages of supply- not needing a huge stack of filiment bulbs on hand... and not having a single spare LED lamp when one dies. Single LED's can't (yet) match the brightness of a 50w+ halogen, so you need to...