In the living room: Where people gather to watch TV or play games, a whiter light is best. Turning off electronic devices and switching to a softer, warmer color of yellow or orange two hours before bed will encourage sleep.
The kitchen: The quality of light for cooking is a major consideration. Lights with high-color rendering help colors pop and bring out details of meat, vegetables and other ingredients. It helps the food look good.
Bathroom: A color-rendering index, or CRI, over 90 is desirable for applying makeup or shaving. We need more light to see as we age, so a dimmable light allows people to adjust the lighting.
Adult bedrooms: Dimmable lights with a warmer glow are ideal to minimize the disruption of melatonin, the hormone that makes us sleepy. It is produced when the lighting dims.
Hallways: Ultralow and warm lighting helps people navigate halls and stairs without affecting their night vision.
For more information check out this Wall Street Journal Article How to Bring the Sun Indoors
Not to mention, you can achieve as much as a 90% energy savings over incandescent bulbs and 50% to 70% over CFL (flouresent) bulbs. The LED bulbs also last longer, anywhere from 5 to 50 times longer. See this Comparison Chart