High Efficiency Lighting...LED Lighting

As our electrical costs continue to increase, so does the search for newer and more efficient means to light or home. We've already replaced many standard incandescent light bulbs with the more efficient compact fluorescent light bulbs (CFL's) and now there is a newer, more efficient bulb that last even longer. So what is this lighting, do-gooder of the the light bulb industry? How much energy savings is it in for you? What exactly are light-emitting diode light bulbs?