I have a 160 LED light - it cost abound $60 and is one of the usual Chinese made things.

The light quality is good and the clear diffuser is useful for giving a reasonable angle of coverage. The light seems a little cool and you have a merry old time if mixing the LED lighting with tungsten. They generally need the clear diffuser to give adequate coverage.

Mine is a cheap unit and the build quality doesn't excite however I did have the unit fall from a light stand onto concrete with no ill effects (other than chasing the AA batteries over the floor).

Mine has inserts to take different types of battery but I use AA NiMh rechargeable batteries.

The unit is fairly heavy with batteries and I wouldn't want to mount it on a E-P3. The foot doesn't inspire great confidence but hasn't been a problem.

This gives you an idea of what they are like...

http://youtu.be/0swA0C7B-ds

My main concern with these lights (other than the poor mount and mine has a loose battery cover) is that they are too weak for fill-in lights in daylight. When you look at the cost, if the latter isn’t a constraint, go for it.

i got2 cheap units to use as a macro light to use  handheld it has 18 leds got it on sale for 20 bucks , got 2 , they work ok but i never got the 2 flex neck i meant to to make a macro rig
also they have too weak of an output