There are lots of folks on the forum who have converted to LED blinkers and brake/running lights. Some used direct replacement LED bulbs, some LED panels (like the well regarded clearalternatives.com brake/running panel) and other fabricated custom inserts (I made mine using Radiantz 1.85" LED Dual-Intensity Clusters). The good thing about LEDs is there are newer, brighter and less expensive ones appearing every day. The bad side of that is reviews and real life experiences can't keep up with all the new products. So, you'll have to decide how much effort you want to invest in picking the best option of brightness, cost and installation. One thing is for sure though - you'll need to replace the thermal OEM flasher unit with a no-load electronic unit (about $12) for LED blinkers.
I would suggest searching this forum first, then WebBikeWorld.com for ideas. Also, truck and RV supply shops will have lots of LEDs (if you have one local).
Chris Glennon - Portland, OR