Exactly - as LEDs have become more common and inexpensive I think they are quickly becoming pretty standard for low-budget work. They aren't perfect, and there are things you can't quite duplicate (specifically really focused light), but the advantages tend to outweigh those concerns for indies. They draw almost no power - so you don't have to worry about blowing residential circuits all the time - and can often be run on batteries so you don't need generators on location. Little or no heat means your talent is more comfortable (less sweating also cuts down on makeup touch-ups), the lights are safer to handle by inexperienced crew, and there's less concern for accidentally tripping sprinklers or burning your location. They also tend to be far more rugged and reliable, even if they are flimsier materials-wise, simply because you don't have to worry about breaking & replacing bulbs. Daylight balanced without filtration is great, and we're starting to see more and more that can dial in various color temperatures as well.
We still use a mix of lights, but more and more we end up using LEDs first - primarily the Coollights 600 & 256 panels. When we need something smaller we use a Comer 1800 and have a bunch of the little Sima rechargeables for accent lights, etc.