I'm finishing off the software for an LED lamp and color organ. Each channel is rated at 14A, so I can probably control about 48 3W LED's. With each LED about 30 Lumens, the total LED output should compete with a 100W bulb.
The software lets me select the LED brightness for each channel, so with Red, Green and Blue LED's I can get most any color. The audio mode is kinda cool--it uses an LM4970 chip to synchronize the display to the audio (3 frequency bands).
This thing actually has a USB interface so I can control the lights from an Excel spreadsheet