Recently at F&G, we've been acquiring and using more and more LED lighting, and it's been very exciting. LED lights not only draw much less power than conventional lights, they also provide color without gels, are much much lighter to carry around, and are easy to use.
We've had a lot of success using these lights for a variety of purposes: a couple small 4 can trees and a simple DMX controller can light most small stage events with ease, all while being much lighter weight than a traditional 8 can system. Plus you don't have to worry about lamps going out, or noisy dimmer packs. LED 8 can systems are available to rent from us for $55 a day.
For bigger shows, adding 10+ LED par cans or strip lights can transform a stage or event, providing massive color and flash. Check out the pictures below for a recent lighting rig we did using mostly LED lighting.