It's not time to panic and it's not time to buy.
LED technology is getting higher
intensity and cheaper every day. At the same time, now that they have a motivation, the
incandescent manufacturers are promising new coatings and
filament technology that will have a dramatic increases in efficiency. The day is coming that we will all be using something different but it's still a long way away. My guess is that for most of us it will come in the form of a modification product that fits our existing gear... like the Mag
LED upgrade kits. In our field only a fool would try to convince everyone to
throw away all their old gear and buy new. Like every other revolution in our industry, it'll be a gradual replacement that takes 40 years to reach the far edges of community and education theater.
Beyond that do some searching as it's been well debated in multiple threads... you probably won't get too many takers on this thread.