LEDs and CFLs aren’t always suited for the same applications, because they emit light differently. LEDs are made to emit light in one general direction, while CFLs are omnidirectional, emitting light in all directions, just like incandescent light bulbs.
The LED’s directional light beam is very convenient for many applications because there’s little to no wasted light emitted away from the area you want to illuminate. However, this can get problematic when you replace an omnidirectional light source with a directional LED.
Directional LEDs are perfect for task lighting, display lighting, focused accent lighting, and even for use in recessed cans. Omnidirectional CFLs will work better for decorative lights, like table lamps, chandeliers, and ceiling fans, when you need even light coming from all sides of the light bulb.
Of course, you should also remember that LEDs are still a developing technology, and manufacturers are creating new LED versions of omnidirectional light bulbs. Just make sure the light bulb gives off the kind of light you need before your purchase it.