Quoted from Crash:What about Titan? At $0.38 their frosted LEDs are the cheapest I have seen of any vendor and to me look the best from the photos. Plus bulk discounts make them even cheaper. Also, they are as tall as incandescents.
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I bought some warm white, frosted, bayonet from titan with the idea of reducing the electrical load by doing backglass bulbs with LEDs. The warm white ones all worked 100/100 i tried. There was some inconsistency in the warm/coolness of the LED, but behind a BG it is not noticeable. Not sure if the inconsistency was from the frosted cap or the LED itself. I am satisfied and the price is right, I think 29 cents at 100+.
I got some other colors from titan to play with, i dont have many other manufacturers LEDs around to compare too though.
as far as cheapest.
http://www.alibaba.com/trade/search?fsb=y&IndexArea=product_en&CatId=&SearchText=pinball+led
I am going to get some samples. With some creative emailing to the china alibaba suppliers, you may just get them to tell you who they supply bulbs for. We'll see how it works out, im not holding breath, but since i might buy a bunch, it may be worth my time.