Well, I even the best LEDs get warm, the really expensive ones have huge aluminum heat sinks on them to dissipate the heat, there's always going to be wasted heat, still not such thing as a 100% efficient light, but even the poorest LEDs I've seen use quite a bit less current than the stock incandescent.
I have not hooked up a meter to mine, but a non-scientific test in mine shows they use much less. In my rig the converter fan would spool up to full (in reaction to the load on it) with ONE incandescent illuminated, it now takes FOUR of the cheap LED panels to spool up the converter fan. Yes they are cheap and far from the best you can buy, but they work, and even if they only last a few years, I'm probably still money ahead at less than $20 for ALL the lights in my RV ;)