The efficiency of most LEDs is broadly similar to the best T5 flourescents and little is to be gained by use of LEDs at present in such applications.
LEDs are improving rapidly and the situation will likely change.
Replacing incandescent with LED is well worth it, and replaceing very small flourescents is also worthwhile. The smaller flourescents can be as low as 25 lumens per watt, easily beaten by LED.
Large T5s are about 100 lumens per watt.