This is confused:-
. Current is Amps, LED draw considerably less Amps to produce the same amount of visible light (lumens) as an incandescent filament. This is blatantly obvious when the two light sources are placed next to one another.
. Electrical power is Watts, that is Amps multiplied by Volts.
. If "Led bulbs consume less current" then using LED bulbs must save on power consumption.
I suspect you mean using led bulbs does not save on power production. But that is true of almost every motorcycle alternator since WW2; they are what is known as "permanent magnet" - unlike other vehicles' alternators that have rotors that are electro-magnets, "permanent magnet" means exactly that, the magnetic strength of the rotor is not changed in use, once the air gap between a given rotor and stator is set, the only variation in stator output is the rotational speed of the rotor.
You have overthought this until you are wrong.
What do you think is the purpose of a reg/rec, given "reg" is an abbreviation of "regulator" and "regulation"?
Permanent magnet alternator produces what it produces. That production must go somewhere - ignition coils heat up, incandescent light bulbs heat up but, for some reason, you are fixated only on heat in a reg/rec.
The "reg" part of a reg/rec is expected to heat up, if you do not buy a poorly designed and/or manufactured reg/rec, it will dissipate the heat up to (and probably a little beyond) its designed limit for years and years, same as ignition coils and incandescent light bulbs work for years and years.
Also, most motorcycle charging systems, it is not only the reg/rec that radiates the heat generated by excess stator production over consumption. The vast majority of reg/rec use "shunt regulation" - the reg/rec makes a circuit through its regulating components and the stator coils, meaning they and the wires between all radiate the heat generated from converting the stator production into heat. To be clear, this is the same as the regulation used certainly by Lucas before Zener diodes, except the circuits were formed by certain positions of the ignition and lighting switches operated by the rider.
Bob Kizer had developed and was marketing the Podtronics reg/rec to owners of old British motorcycles certainly in the US in the 1980's. Some of these are still in use. To my certain knowledge, in the 1970's, the Japanese were fitting their motorcycles with reg/rec and alternators more powerful than anything Lucas ever put into production. So, for decades, millions of reg/rec have been operating all over the world, with only an infinitesimally small number of failures, "infinitesimally small" being the reason the failures are notable.
