Here is a summary that compares LED and LCD tv's:
http://www.squidoo.com/which-is-better-lcd-or-led-tv
I should mention that we have invested in LED computer monitors at home since we are on the computers a lot. We have an older bigger screen tv, but purchased a small LCD Vizio for the computer room that works fine for our purposes. If we were going to get a large screen tv, we might look harder for an LED.