I think Samsung did a dis-service to LED technology when it started to sell it's "LED HDTVs". People thought "wow a new technology"; no, not really.
The benefits of LED backlight is as follows:
1. Thinner monitor because of edge backlight ... Note #1
2. Reaches optimal white light faster ... Note #2
3. Lower power consumption
Note #1 - Traditional LCDs use florescent lights (CCFLs) as backlighting which covers the entire back of the monitor. Edge backlight for LEDs means the LEDs emits light from the edges to an "amorphous" material which reflects the light towards the viewer(s). This in itself does not improve the quality of backlight uniformity because the "amorhous" material can have defects or "blotches". A fully array rear LED backlight would be better, but that does not mean it is better than CCFLs.
Note #2 - LED lights tends to reach it's "optimal white temperature or color" faster than CCFLs which tends to take a little time to "warm up". However, that does not mean while light coming from LEDs will be better than from CCFLs. A lot has to do with the quality of the lights used in the manufacturing process.
Addtionally, while the backlight does contribute to color accuracy of, well... colors, it is not the be all, end all of color accuracy. The panel technology is the most important of all. If the panel tech it's cannot produce accurate colors, then what's the point of having the most "perfect white" backlight?
All current production LCD monitors with LED backlighting uses the "inferior" TN panel technology. By design, it cannot produce accurate colors. If you are a professional graphics designer who professes any type professional pride in your work. You avoid using monitors with TN panels for your work related projects upon pain of death. For the average consumer they are fine.