LEDs are more economical, but in terms on quality of the light, they are "good enough" at most, while halogen lights are great in terms of light spectrum, intensity and colors rendering, as long as you can afford the electricity bill.
To put it blunt, when switching from halogen to LEDs, even the very good LEDs look lame. Not to say the range of problems from low end LEDs, like RF interference, flickering, bad spectrum, short life, etc.